I plan on buying a ground floor flat in Blackwall. My Conveyancer is not listed on the lender conveyancing list. Can I still continue with my Blackwall conveyancing solicitor even though they are excluded from the mortgage company list of approved lawyers?
You have a number of alternatives available to you here
- Complete the deal with your preferred Blackwall lawyer but your bank will need to instruct a conveyancing practitioner from their approved list. This will result in additional charges together with potential delay.
- Get a fresh property lawyer to conduct the conveyancing, making sure they are on the mortgage company conveyancing panel.
- Convince your conveyancing practitioner to apply to join the mortgage company panel
We are hoping to buy a 3 bedroom apartment in Blackwall with a loan from Clydesdale.We would like to retain our Blackwall conveyancing lawyer but Clydesdale says he's not on their approved list of member firms. It seems we are left with little choice but to instruct a Clydesdale panel solicitor or retain our high street solicitor and pay for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Clydesdale use our lawyer?
Unfortunately,no. The loan issued to you contains various provisions, one of which will be that conveyancers will be on the Clydesdale approved list. Until recently, most banks had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Clydesdale
I am helping my mother sell her house in Blackwall. Does the solicitor order an energy assessment or it is for the seller to see to?
After the demise of Home Information Packs, EPC’s was maintained a mandatory element of moving property. An energy performance certificate should be commissioned in advance of the property being marketed. This is not something that solicitors ordinarily organise. If you are using a Blackwall conveyancing lawyer they may be willing to arrange energy assessments given their contacts with long established local accredited person
Are all Blackwall Conveyancing Quality Solicitors on the HSBC conveyancing list of approved firms?
A selection of banks and building societies now make use of CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.
I have instructed a Blackwall conveyancing practitioner having checked that they are on the Co-operative conveyancing panel. Does my lawyer arrange the survey of the property?
Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Blackwall postcode. As you are getting a mortgage with Co-operative, you could contact them to see if they have a list of approved surveyors in Blackwall.
I have been told that property searches are a common cause of stalling in Blackwall house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Blackwall.
I am looking for a ground for flat up to £305k and identified one close by in Blackwall I like with a park and station nearby, the downside is that it only has 51 years on the lease. I can't really find anything else in Blackwall for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the shortness of the lease may be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you can request that they 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 solicitor regarding this.
I have appointed a Blackwall conveyancing solicitor for our house purchase (novice purchasers) and have noticed in the terms and conditions that they are not regulated by the Financial Conduct Authority. Should I be worried or is that standard with lawyer?
We can't see why they should be. Most conveyancing practitioner don't lend money. You should check that they are governed by the SRA, who have strict obligations in relation to funds deposited on client account.