I had intended to instruct a conveyancing solicitor in East Barnet for our house purchase. Our financial adviser has since notified us that our mortgage company Clydesdale won't deal with them. Why is this not regarded as unduly restrictive?
Pre- 2008 most banks had an appetite for risk which was higher than today. Almost all East Barnet conveyancing firms would have been on many mortgage company panels. The Financial Services Authority in 2010 carried out a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more data from law firms regarding their operations and their employees and establishing certain criteria such a completing on a minimum volume of transactions. Many East Barnet conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. East Barnet is one of the many locations where the conveyancers we list are are authorised to act for Clydesdale.
I am the sole recipient of my late father’s estate and I have everything in my name now, including the house in East Barnet. The East Barnet property was put into my name in June. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', meaning my proprietorship may be considered the same way as though I had purchased the property in June. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. many mortgage companies would take a pragmatic view as this obligation is chiefly there to identify subsales or the wholesaling and assigning of properties.
When it comes to mortgage companies such as Bank of Ireland, do East Barnet property lawyers have to pay an annual charge to be on the list of approved solicitors?
We are unaware of any bank fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I am expecting a AIP from Coventry BS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Coventry BS recommend any East Barnet solicitors on the Coventry BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint East Barnet solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
I have recentlydiscovered that Arc property Solicitors have closed. They carried out my conveyancing in East Barnet for a purchase of a leasehold apartment 12 months ago. How can I check that my home is not still registered in the name of the former proprietor?
The quickest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of East Barnet conveyancing specialists.
I have been advised by three or four local estate agents in East Barnet to find a conveyancer using your seach tool. What’s the financial upside for Estate Agents to promote your lawyers ahead of another?
We refuse to make any financial incentive for directing people our way. We found it would be just too difficult to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
I am using a search engine for the phrase on line conveyancing in East Barnet it shows results of numerous property lawyerslocally. With so much choice what is the best way to find the right property lawyer for me?
The ideal way of choosing a suitable conveyancer is through a personal testimonial, so seek the opinion of friends and relatives who have acquired a property in East Barnet or a reputable estate agent or financial adviser. Fees for conveyancing in East Barnet vary, so it's advisable to request a minimum of four quotes from varying types of solicitors. Be sure to secure confirmation what costs in the quote includes.