Interview with Colman Coyle
Tell us a little about the background of Colman Coyle. We were established 40 years ago with the ambition to provide high quality legal services with integrity, professionalism and respect for all our clients. We have always valued having our offices based solely in Islington and have grown to be a significant local business albeit with a wide ranging, global reach. We ensure each client has access to a team of specialised practitioners who are always partner-led as there is no substitute for experience. Many of our current partners started out as trainees at the firm and we remain proud of our homegrown talent and the longevity and consistency of service that this affords our clients. Why should people select you for their property purchase? Experience has taught us that clients typically expect the following from their Conveyancer: clear communication, transparency on pricing and legal know how. We have all of this to offer plus a lot more! Each transaction is carried out from start to finish by a fully qualified Solicitor or Licensed Conveyancer who will remain a client’s single point of contact throughout. Our staff have extensive local knowledge and years of experience between them specifically in the residential conveyancing sector. We pride ourselves on being efficient and able to progress matters with competence as well as speed. How has the role of the conveyancer evolved over the years? The role has expanded significantly from the “old days” of examining and advising purely on legal title. One of the most substantial responsibilities is that of establishing clients’ sources of wealth and funds for transactions. You can think of conveyancers as unofficially deputised members of the Serious Fraud Office as we are under an enormous amount of regulatory pressure to be 100% satisfied with every penny that comes through to our client account. We pride ourselves on performing that perfect balancing act – finding the sweet spot between fulfilling our Anti Money-Laundering obligations and making clients feel at ease and supported during a potentially stressful process of purchasing a property.
Can you give an example of how you have benefitted a client during a difficult negotiation? Islington Council have updated their I.T system which has impacted the local authority’s search turnaround times causing potential delays to exchange of contracts. In these circumstances, it is important to assess the options available for the client i.e. whether search indemnity is acceptable to a mortgage lender and if so, advising the client of any risks associated with search indemnity. Indemnity insurance will insure against the risk of any adverse entries appearing on the local authority search and the cost of these policies are quite low. It is also useful to check the local authority’s planning and building control register for any entries relating to the property and whilst this is not an alternative substitute to the local search, it can provide useful information to determine what works (if any) have planning and building control approval. The key here is to realise the potential problems and explore solutions and advise our clients accordingly. What changes do you forsee for the London property market in the future? At the time of submitting these replies, the country is preparing to go to the polls in the general election. Different political parties have made various pledges in relation to housing and property but the actual changes which could arise over the next 5 years are difficult to accurately foresee. However, we are confident that we are more than qualified to assist our clients with their property issues no matter which party is in government. • If the stamp duty reductions remain in place, we can assist first time buyers to swiftly take advantage of this. • If private landlords wish to sell up due to continuously high interest rates or even expand their portfolios due to incredibly high demand for private rented accommodation, then we are happy to help. • We have extensive knowledge and experience in new-build plot sales and purchases. If the parties’ pledges for housebuilding are to be believed then we are well placed to give appropriate advice.
www.colmancoyle.com
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