My partner and I are hoping to buy a home in West Harrow and have instructed a West Harrow conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Leeds Building Society have this afternoon contacted us to inform me that they have now hit a problem as our West Harrow conveyancer is not on their approved list of lawyers. Is this a problem?
If you are buying a property with the assistance of a mortgage it is normal for the purchasers' solicitors to also act for 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 Quality Scheme. Your solicitor 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 lender’s conveyancing panel as you are at liberty to use your preferred West Harrow lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
I am considering applying for a UBS mortgage for purchase of a newly converted (under development) in West Harrow with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for UBS ?
There is nothing to stop you using your solicitor, but UBS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Forgive me if this question is silly but I am new to the process as FTB of a ground floor flat in West Harrow. Do I pick up the keys to the house on the completion date from my solicitor? If so, I will appoint a local conveyancing solicitor in West Harrow?
On the day of completion you will not be required to attend the conveyancers office in West Harrow. Conveyancing lawyers for you will transfer the purchase money to the owner’s conveyancers, and once they have received this, you should be invited to pick up the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
My father informed me that in buying a property in West Harrow there could be a number of restrictions affecting the ability to carry out external alterations to the property. Is this right?
We are aware of anumerous of properties in West Harrow which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in West Harrow should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all West Harrow CQS (Conveyancing Quality Scheme) solicitors are on the UBS conveyancing list of approved solicitors?
It is true that some lenders now make use of CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
I decided to have a survey carried out on a house in West Harrow ahead of appointing lawyers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some banks may refuse to give a loan on this type of property.
It depends who your proposed lender is. HSBC has different requirements from Halifax. Should you wish to call us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in West Harrow. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in West Harrow to see if the conveyancing costs will increase in light of this.
How do I locate a West Harrow law firm on the Barclays conveyancing panel? I have wheels and am willing to travel upto 25kilometers to meet the lawyer.
You can use the facility on this page. Please select a bank and your location and you will see a number of West Harrow conveyancing lawyers locally. We have detailed some West Harrow conveyancing firms at the bottom of this page and you can ring them to see if they are on the Barclays panel