Last June we completed a house move in Camden. We have since encountered a number of issues with the house which we suspect were overlooked in the conveyancing searches. What action can we take? Can you clarify the type of searches that needed to have been carried out for conveyancing in Camden?
The question is vague as to the nature of the problems and if they are specific to conveyancing in Camden. Conveyancing searches and due diligence undertaken as part of the buying process are designed to help avoid problems. As part of the process, the vendor answers a questionnaire known as a Seller’s Property Information Form. answers turns out to be incorrect, you may have a misrepresentation claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Camden.
We are selling our house in Camden. Does my lawyer need to be required to be on the Nationwide conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
We previously chose conveyancing lawyers based in Camden on the TSB solicitor panel. They are now charging me an additional amount for the legal aspects of the TSB mortgage. Is this an additional conveyancing fee specified by TSB?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your property lawyer can levy a fee for this. The fee is not set by TSB but by your Camden conveyancing practitioner. Some firms on the TSB panel will charge ’dealing with mortgage’ fee but some firms incorporate it on their overall fee.
It is not clear whether my lender requires a lease extension. I have called into my local Camden bank branch on a couple of occasions and was reassured it wasn't an issue and they would lend. My Camden conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
As long as the property lawyer is on the bank panel, she or he must comply with the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
At last I have had an offer on a flat in Camden agreed to, but there is a chain. The owners have put an offer on somewhere, however it’s not yet agreed to, and are looking at other properties booked. I have chosen a high street conveyancing solicitor in Camden. What should be my next step? At what point should I apply for the mortgage with Clydesdale?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then survey, Camden conveyancing search fees, etc). The first course of action is to check that your lawyer is on the Clydesdale approved list. As to the subsequent steps this very much depends on the uniqueness of your transaction, desire for this property and on the state of the market. During a rising market many home buyers would apply for a home loan with Clydesdale and pay for the valuation and only if it comes back ok would they pay their conveyancing practitioner to proceed with the conveyancing in Camden.
A relative advised me that if I am purchasing in Camden I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Camden conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Camden around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Camden Education with maps and statistics, Local Amenities and other useful data concerning Camden.
How does conveyancing in Camden differ for newly converted properties?
Most buyers of new build premises in Camden come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is built. This is because builders in Camden usually buy the site, 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 accustomed to new build conveyancing in Camden or who has acted in the same development.
Whilst your website is a good idea there are many lawyers listed near Camden being on the mortgage company conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the bank approved panel?
We do not recommend specific Camden firms as the right Camden conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Camden knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..