I have just been advised by my broker that my Bow the law firm I have appointed is not on the mortgage company Conveyancing panel. What can I do to be certain whether this is indeed the case?
The first thing you need to do is to contact your Bow conveyancer. You lawyer should advise you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
As someone not used to conveyancing in Bow what is the number one tip you can impart concerning the house moving process in Bow
You may not hear this from too many lawyers but conveyancing in Bow and elsewhere in England and Wales is an adversarial experience. Put another way, when it comes to conveyancing there is plenty of opportunity for confrontation between you and other parties involved in the ownership transfer. For instance, the vendor, selling agent and sometimes the bank. Appointing a solicitor for your conveyancing in Bow an important selection as your conveyancer is your adviser, and is the ONLY person in the transaction whose responsibility is to look after your legal interests and to protect you.
Every so often a third party with a vested interest may attempt to persuade you that you should follow their advice. For instance, the estate agent may claim to be assisting by suggesting your lawyer is dragging his heels. Or your financial adviser may tell you to do something that is contrary to your lawyers guidance. You should always trust your lawyer above all other parties in the home moving process.
I am planning to move house in August. Does my conveyancing solicitor liaise with the removal company on the completion day. As an aside, can you suggest a removal company in Bow. Conveyancing lawyer was found prior to coming across this website.
On the afternoon of completion you will need to pick up the house keys from your selling agent however this can only happen after the sellers lawyers inform the agent that the monies to complete are in and the keys can be passed over. After that you should advise the removal men that you are ready to move in. As a matter of policy we do not recommend a specific removal company but can help you choose a residential property solicitor in Bow or a lawyer that specialises in conveyancing in Bow.
I happen to be the single beneficiary of my late mum's will with all property in now in my sole name, including the house in Bow. Conveyancing formalities meant that the Land Registry date was in May. I want to move. I do know about the Mortgage Lenders 6 month 'rule', which means that my proprietorship may be treated the same way as if I'd bought the property in May. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. How sensible a view banks take of it, depend on the mortgage company as this obligation is primarily there to capture the purchase and immediately sell or the flipping of property.
When it comes to mortgage companies such as HSBC, do Bow lawyers have to pay a yearly amount to be on the conveyancing panel?
We are unaware of any bank fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
Have completed on a a detached house in Bow , What is the estimated time for the Land Registry to register the transfer to my name? My Bow conveyancing solicitor works at snail pace, so I want to check that my name is recorded.
As far as conveyancing in Bow registration is no quicker or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timescales can adjust according to the party submitting the application, whether it is in order and if the Land registry communicate with any other persons or bodies. As of today approximately three quarters of such applications are fully dealt with within 12 days but occasionally there can be protracted hold-ups. Registration occurs once the new owner has moved in to the premises thus post completion formalities is not usually an essential issue yet where it is urgent that the the registration takes place urgently then you or your solicitor can communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Bow differ for new build properties?
Most buyers of new build residence in Bow approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is constructed. This is because house builders in Bow usually acquire the real estate, 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 property lawyers 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 Bow or who has acted in the same development.
I am on look out for some leasehold conveyancing in Bow. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and most are in Bow - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Having spent months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Bow. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to determine the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Bow residence is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.