I am under pressure from the mortgagee in possession of a property in West Hampstead to exchange within four weeks. What can be done to accelerate the buying process?
Where you are under time constraints for your conveyancing it is highly recommended that your solicitor is familiar with the area as they will benefit local contacts and intelligence. It is even conceivable that they may have conducted otherhomes in the same road. Therefore consider using a West Hampstead conveyancing firm. Second, ensure that the conveyancing firm is on the on the approved list for your mortgage company. It is said that just under twenty per cent of West Hampstead conveyancing deals are frustrated or jeopardised after finding out that a purchaser’s solicitor was not on their mortgage lender’s member panel. This can often result in the legal transfer of property being delayed by almost three weeks. It is said that this issue impacts approximately 100,000 home sales every year. Many West Hampstead conveyancing practices can not act for certain mortgage companies so do check as early as possible.
Can I be sure that the West Hampstead conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in West Hampstead obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor handling your conveyancing.
I have paid off my mortgage with Virgin Money. I assume I don't need a West Hampstead solicitor on the Virgin Money panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
The formalities of my remortgage has taken place for my property in West Hampstead. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved 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 need some quick conveyancing in West Hampstead as I am faced with an ultimatum to exchange contracts within one month. A mortgage is not required. Is it possible to decline from having conveyancing searches to save money and time?
As you are not taking a home loan you have the choice not to do searches although no lawyer would suggest that you don't. With plenty of history conveyancing in West Hampstead the following are examples of issues that can crop up and therefore impact market value: Enforcement Actions, Overdue Fees, Overdue Grants, Railway Schemes,...
Are there restrictive covenants that are commonly identified during conveyancing in West Hampstead?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in West Hampstead. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
My partner and I are purchasing a ground floor flat in West Hampstead. At the time of instructing our property lawyer, they assured us that they were on all major UK lender panels. The mortgage broker called today to say that they are not on the Aldermore approved list. Should that be true, what should we do? Should we simply choose a different property lawyer that is on their approved list or should we cover the costs for dual representation, with Aldermore appointing their own preferred conveyancer.
When purchasing a property with mortgage finance it is usual for the buyer’s solicitors to also represent the purchaser's lender. In order to act for a bank or building society a property lawyer has to be on that lender's conveyancing panel. An application has to be made by the solicitor to the lender to become a member of the lender's panel and there are increasingly strict criteria which the conveyancer has to satisfy. Some building societies now insist their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your conveyancing practitioner should contact Aldermore to find out 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 are not legally obliged to appoint a law firm on Aldermore's conveyancing panel as you are at liberty to use your preferred West Hampstead lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the equation.