I am obtaining a mortgage with Lloyds. I would like to enlist the help of a Licensed Conveyancer in Bethnal Green. Does the Lloyds Solicitor panel include Licensed Conveyancers?
The Lloyds conveyancing panel is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My wife and I are getting closer to an exchange on a house in Bethnal Green and my parents have transferred the 10% deposit to my conveyancing practitioner. I am now advised that as the deposit has not arrived from me my conveyancing practitioner needs to disclose this to my mortgage company. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
Your conveyancing practitioner is obliged to check with lender to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Do the Building Society Association intend to launch a online directory to to identify solicitors on the Norwich and Peterborough Building Society conveyancing panel for example in Bethnal Green?
We have not been informed any intention on the part of the BSA to promote such a register.
My friend advised me that where I am purchasing in Bethnal Green I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Bethnal Green conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Bethnal Green around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bethnal Green Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Bethnal Green Education with maps and statistics, Local Amenities and other useful information regarding Bethnal Green.
How does conveyancing in Bethnal Green differ for newly converted properties?
Most buyers of new build premises in Bethnal Green come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is completed. This is because new home sellers in Bethnal Green tend to acquire the land, 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 conveyancing solicitors 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 Bethnal Green or who has acted in the same development.
Am I better off to go with a Bethnal Green conveyancing solicitor based in the location that I am buying? An old friend can execute the conveyancing but his firm is located 200miles away.
The benefit of a high street Bethnal Green conveyancing practice is that you can visit the firm to sign documents, present your ID and apply pressure on them if necessary. Having local Bethnal Green know how is a bonus. However it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and on the whole were happy that must trump using an unknown Bethnal Green conveyancing lawyer just because they are Bethnal Green based.