Is the fact that my solicitor in Hampstead is not identified on my mortgage company's conveyancing panel that there is a problem with the quality of his conveyancing?
It would not be wise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Hampstead conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
I am buying a brand new flat in Hampstead and my solicitor is telling me that she has to the bank to disclose incentives from the seller. I am nearing the developer’s deadline to exchange and my preference is not to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are the BSA planning on creating a searchable register to list law firms on the Norwich and Peterborough Building Society conveyancing panel for instance in Hampstead?
We are not aware of any intention on the part of the BSA to promote such a register.
Forgive me if this question is silly but I am wet behind the ears as a 1st time purchaser of a two bedroom flat in Hampstead. Do I receive the keys to the property on the completion date from my lawyer? If so, I will appoint a local conveyancing solicitor in Hampstead?
On the day of completion you will not be required to go to the conveyancers office in Hampstead. Conveyancing lawyers for you will arrange to send the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you should be able to collect the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
Is it the case that all Hampstead solicitor practices on the Aldermore conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Aldermore approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. The majority of banks do permit licenced conveyancers on their panel in which case such practice would be governed by the Council of Licensed Conveyancers.
We are getting a further advance on our home loan from Skipton as we want to carry out renovations to our house in Hampstead. Are we obliged to select a nearby Hampstead solicitor on the Skipton conveyancing panel to deal with the legals?
Skipton would not normally appoint firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton conveyancing panel.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one round the corner in Hampstead I like with open areas and railway links nearby, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Hampstead suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the remaining unexpired lease term will be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
My husband and I are new on the property ladder - agreed a price, yet the estate agent informed us that the vendor will only proceed if we appoint the agent's chosen conveyancers as they want an ‘expedited deal’. We would rather use a high street solicitor with experience of conveyancing in Hampstead
It is unlikely the vendors are driving this. If they want ‘a quick sale', alienating a serious purchaser is not the way to achieve this. Contact the owners directly and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are unencumbered (d) you wish to move quickly (e)however you intend to use your preferred Hampstead conveyancing solicitors - rather thanthe ones that will earn the estate agent a introducer fee or hit his conveyancing targets set by senior management.