When can the exchange of contracts happen for residential conveyancing in Islington and do I need to attend the lawyers office?
If you are in close proximity to our conveyancing solicitors in Islington you are invited in to sign contracts. However, the law practices we work with offer a countrywide conveyancing service and give just as diligent and professional a job for you when communicating with you electronically. The executing of the contract is not the point of no return. A signed contract is just a prerequisite for the solicitor to address the formalities when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Islington)to be in the office at the appropriate time.
Is there a search tool that I can use to check that the solicitor handling my conveyancing in Islington is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Nottingham Building Society thus paying £187.00 plus VAT in another set of legal bill.
Feel free to take advantage of the search tool on this web page. Pick the mortgage company and type ‘Islington’ or your location and you will be presented with a number of lawyer based in Islington or near you.
We previously instructed solicitors based in Islington on the Santander solicitor panel. They are now charging me a further amount for dealing with the Santander mortgage. Is this an additional conveyancing fee specified by Santander?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your lawyer can charge a fee for this. The fee is not dictated by Santander but by your Islington conveyancer. Some firms on the Santander panel will quote an ‘acting for lender’ fee but many firms include it on their overall fee.
Last month we had a mortgage agreed in principle with HSBC. Islington conveyancing practitioners were appointed. How long does it take for HSBC to issue the offer to the conveyancer?
Some lenders take longer than others. Have HSBC completed the survey? Have you informed HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I currently have a mortgage with Lloyds for my property in Islington. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Lloyds?
Your original mortgage agreement with Lloyds will provide that you need their approval prior to letting out your property as this is likely to be a breach of Lloyds’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds directly. It should not be necessary to do this via a Lloyds conveyancing panel solicitor.
I require quick conveyancing in Islington as I have an ultimatum to exchange contracts within 3 weeks. Thankfully I do not require a mortgage. Can I avoid the conveyancing searches to save fees and time?
If.Given you are are a mortgage free buyer you have the choice not to have searches carried out although no law firm would suggest that you don't. Drawing on years of experience of conveyancing in Islington the following are examples of issues that can show up and adversely affect market value: Refused Planning Applications, Outstanding Fees, Overdue Grants, Road Schemes,...
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a quick, chain free conveyancing. Islington is the location of the property. Can you offer any assistance?
Flying freeholds in Islington are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Islington you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Islington may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.