My fiance and I are looking to acquire a house in Harringay and are in fact using a Harringay conveyancing firm. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Platform Home Loans Ltd have this morning contacted us to inform me that there is now an issue as our Harringay lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' lawyers 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 Accreditation Scheme. Your solicitor should contact your mortgage company 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 Harringay lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
The deeds to our house are lost. The conveyancers who dealt with the conveyancing in Harringay 4 years ago no longer exist. Will I be able to sell the house?
You no longer need to hold title deeds to evidence that you are the registered proprietor of land or premises, as the Land Registry hold details of all registered land or property electronically.
Should I be concerned that estate agents that I am dealing with are suggesting a web based conveyancing firm rather than a local Harringay conveyancing practice?
As is the case with lots of professional services, often input from connections can be extremely useful or valuable. Yet there are numerous parties with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and lenders may recommend conveyancers to instruct. Sometimes these conveyancers might be known to one of the organisations as being good in their field, but sometimes there might be a commercial relationship behind the endorsement. You have the discretion to select your preferred conveyancer. However, bear in mind that many lenders operate an approved list of law firms you have to use for the mortgage related work in your home move.
I need to instruct a conveyancing solicitor for residential conveyancing in Harringay. I have stumble across a site which appears to be the perfect offering If there is a chance to get all the legals completed via phone that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Are the Harringay conveyancing lawyers identified as being on the bank conveyancing panel, together with their details provided by the lender?
Harringay law firm practices and firms carrying out conveyancing in Harringay themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the mortgage company directly.