I am nearing exchange of contracts for my home in Tufnell Park and the EA has just e-mailed to say that the purchasers are swapping conveyancer. The excuse is that the bank will only engage with solicitors on their conveyancing panel. On what basis would a big named lender only deal with certain solicitors rather the firm that they want to choose to handle their conveyancing in Tufnell Park ?
Banks have always had an approved set of law firms that can act for them, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions blame a rise in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any sway in the decision.
We are purchasing a house in Tufnell Park. It might be a silly question but how we can trust a solicitor? On completion day we have to deposit funds 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 selling my flat. I had a double glazing fitted in June 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, RBS are being problematic. The Tufnell Park solicitor who is on the RBS conveyancing panel is saying indemnity insurance will be fine but RBS are requiring a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My offer on a detached house in Tufnell Park has been agreed to, the owners do however have an associated purchase. The vendors have put an offer on a property, but it’s not yet tied up, and have viewings of other flats in the pipeline. I have instructed a local conveyancing solicitor in Tufnell Park. What do I do now? At what point do I apply for the mortgage with Lloyds?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx £1k, then survey, Tufnell Park conveyancing search charges, etc). First, you should check that your conveyancing practitioner is on the Lloyds conveyancing panel. Regarding the subsequent phase this very much depends on the uniqueness of your transaction, motivation for this property and on the state of the market. In a rising market many home buyers will apply for a home loan with Lloyds and arrange for the valuation and only if it was satisfactory would they pay their conveyancer to press on with searches.
Me and my brother have a terraced Edwardian house in Tufnell Park. Conveyancing lawyer acted for me and Britannia. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the exact same property. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tufnell Park and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with your conveyancing solicitor who completed the work.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Tufnell Park is the location of the property. Can you shed any light on this issue?
Flying freeholds in Tufnell Park are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Tufnell Park you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tufnell Park may determine 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 residence.
I am four weeks into a residential purchase having been recommend to conveyancers by the estate agent to execute conveyancing in Tufnell Park. We are not happy. Can you you assist me in finding new lawyers?
A conveyancer would need to be very poor in order to consider diss instructing them. Has the mortgage been generated? In the event that it has you need to make them aware of the replacement lawyer and ensure the mortgage documents are issued to the new lawyers. Your new solicitor ideally needs to be on the banks panel to avoid escalating charges and complications. So that should be your starting point. Our search tool should assist you in finding a bank approved lawyer for your home move in Tufnell Park