My fiance and I are looking to buy a property in Norwood Green and are in fact using a Norwood Green conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Bank of Scotland have this evening contacted us to advise us that they have now hit a problem as our Norwood Green solicitor is not on their conveyancing panel. What do we do from here?
If you are buying a property needing a mortgage it is usual for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Norwood Green lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Can you clarify what the consequences are if my solicitor is suspended from the Co-operative Solicitor panel ahead of completing my conveyancing in Norwood Green?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
We are buying a property in Norwood Green. I might seem paranoid but how we can trust a lawyer? On completion day we will need to deposit money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am helping my sister sell her property in Norwood Green. Does the conveyancing solicitor order the energy performance certificate or it is for me to see to?
Following the abolition of HIPs, EPC’s was left as a compulsory element of selling a property. An energy performance certificate needs to be commissioned prior to the property being marketed. It is not something that conveyancers normally arrange. If you are using a Norwood Green conveyancing solicitor they may be able to arrange energy performance certificates due to their relationships with long established Norwood Green assessors
We are getting a further advance on our home loan from Clydesdale as we wish to carry out a loft conversion to our home in Norwood Green. Are we obliged to appoint a bricks and mortar Norwood Green solicitor on the Clydesdale conveyancing panel to handle the paperwork?
Clydesdale don't usually require a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale list.
I need some quick conveyancing in Norwood Green as I am faced with an ultimatum to complete in less than one month. A home loan is not required. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are not taking a mortgage you have the choice not to have searches conducted although no conveyancer would recommend that you don't. Drawing on our experience of conveyancing in Norwood Green the following are examples of what can crop up and adversely impact the marketability of the property: Enforcement Actions, Overdue Fees, Overdue Grants, Unadopted Roads,...
I opted to have a survey done on a house in Norwood Green in advance of instructing conveyancers. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some lenders will refuse to grant a loan on such a property.
It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. Should you wish to telephone us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Norwood Green. Conveyancing will be smoother if you use a solicitor in Norwood Green especially if they are accustomed to such properties in Norwood Green.