Unfortunately I am unable to travel far from North London. I would like to know the logic why all North London solicitors aren't included on all lender panels?
Lenders point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The dismissal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. This led to mortgage companies removing a number of firms from their official list of approved lawyers .
My lawyer in North London has never been on on the Godiva Mortgages Ltd Solicitor Panel. Can I still continue with my prefered solicitor even though they are not on the Godiva Mortgages Ltd list of approved lawyers?
The limited options available to you here include:
- Complete the purchase with your preferred North London solicitors but Godiva Mortgages Ltd will need to use a lawyer on their list of acceptable firms. This will result in additional total legal charges and cause delays.
- Choose an alternative solicitor to to deal with the conveyancing, obviously checking they are on the Godiva Mortgages Ltd panel
A colleague advised me that in buying a property in North London there may be various restrictions prohibiting external changes to a property. Is this right?
We are aware of anumerous of properties in North London which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in North London should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am planning to move home in March. Will my conveyancing solicitor communicate with the removal company on the completion day. Incidentally, can you recommend a removal company in North London. Conveyancing lawyer was chosen prior to coming across your site.
On the afternoon of completion you will need to collect the house keys from the property agent but this can only take place after the sellers lawyers inform the agent that they acknowledge receipt of the completion payment and the keys can be collected. Subsequently you should inform the removal company that you are ready to move in. As a matter of policy we do not suggest a particular removal company but can help you find a residential property solicitor in North London or a lawyer with expertise in conveyancing in North London.
Completion of my purchase has taken place for my property in North London. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I purchased my apartment on 9 November and the transaction details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in North London said it should be recorded in a couple of weeks. Are properties in North London particularly slow to register?
As far as conveyancing in North London is concerned, registration is no faster or slower than the rest of the country. Rather than based on location, timescales can adjust subject to who lodges the application, whether there are errors and if the Land registry have to notify any other parties. As of today approximately 80% of such applications are completed within two weeks but occasionally there can be extensive hold-ups. Registration is effected once the new owner is living at the property thus an expedited registration is not typically top priority yet where there is a degree of urgency associated with the registration then you or your conveyancer can speak with the land registry and explain the circumstances.
How does conveyancing in North London differ for new build properties?
Most buyers of new build or newly converted property in North London contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is finished. This is because builders in North London typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in North London or who has acted in the same development.