Me and my partner are purchasing a 3 bedroom flat in Chafford Hundred with a mortgage. We would like to retain our Chafford Hundred solicitor, but the bank advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or retain our Chafford Hundred solicitor as well as pay for one of their panel firms to act for them. This seems very unfair; can we not require that the lender use our Chafford Hundred solicitor ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms 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. Another option that might be available is for your Chafford Hundred conveyancing lawyer to apply to be on the conveyancing panel.
I am in a contract race with another prospective purchaser for a property in Chafford Hundred. What can be done to accelerate the legal process?
In a situation where the seller is applying pressure to exchange it is advisable to make sure that your lawyer is familiar with the location as they will make use of local contacts and knowledge. It is possible that they would have handled previoushouses in the same road. You would be best advised to use a Chafford Hundred conveyancing solicitor. Second, ensure that the conveyancing firm is on the on the approved list for your mortgage company. It is claimed that 18% of Chafford Hundred conveyancing deals are frustrated or derailed after finding out that a buyer’s lawyer was not on their banks list of approved solicitors. In many cases this discovery resulted in the conveyancing being delayed by as much as three weeks. It is said that this issue impacts approximately one hundred thousand home sales annually. Almost all Chafford Hundred conveyancing firms can not represent certain lenders so do check as early as possible.
It is 10 years ago since I purchased my house in Chafford Hundred. Conveyancing lawyers have recently been instructed on the sale but I can't track down the title documents. Will this cause complications?
Don’t worry too much. First there is a possibility that the deeds will be kept by your lender or they may be archived with the solicitor who oversaw your purchase. Secondly in all probability the title will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. Most conveyancing in Chafford Hundred relates to registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
My husband and I have organised the release of further monies on our mortgage from Aldermore as we wish to carry out alterations to our property in Chafford Hundred. Do we need to select a bricks and mortar Chafford Hundred solicitor on the Aldermore conveyancing panel to deal with the paperwork?
Aldermore don't usually require a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore list.
I am expecting a OIP from Co-operative this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Co-operative recommend any Chafford Hundred solicitors on the Co-operative conveyancing panel, or is it better to go independently?
You will need to appoint Chafford Hundred solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.
The formalities of my remortgage has taken place for my property in Chafford Hundred. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am looking for a leasehold apartment up to £245,000 and found one close by in Chafford Hundred I like with open areas and transport links in the vicinity, however it's only got 61 years on the lease. I can't really find anything else in Chafford Hundred in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan that many years will likely be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
My conveyancing solicitor in Chafford Hundred has requested from me proof of ID documents saying that this forms part of his requirements as a conveyancer on the lender Solicitor panel. This is news to me - can I refuse?
Anti-terror and anti-money-laundering rules require Chafford Hundred conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the bank also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the bank's UK Finance Lenders’ Handbook requirements