I am not in a position to travel far from Chingford. Please explain the reason why all Chingford solicitors aren't automatically on all bank panels?
Pre- 2008 most lenders demonstrated an approach to risk which is different from today. The Financial Services Authority in 2010 carried out a thematic review into property fraud which in summary warned lenders: know the conveyancing practitioners on your panel. As a result, mortgage companies have subsequently requiredmore data from law firms concerning their operations and the individuals employed by them and set certain criteria such as completing a minimum amount of transactions. Hundreds of firms have found themselves excluded from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the criteria of amount of transactions the mortgage companies required.
My father advised me that in purchasing a property in Chingford there could be a number of restrictions affecting the ability to carry out external alterations to the property. Is this right?
We are aware of a number of properties in Chingford which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Chingford should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have been told by my solicitor that absentee landlord insurance is required on my purchase. What is the level of cover for Chingford conveyancing?
The right level of absentee landlord indemnity insurance depends on your lender. It would differ for example between Birmingham Midshires and The Mortgage Works. Conveyancing practitioners as opposed to borrowers take out such policies.
We had appointed conveyancing lawyers located in Chingford on the Yorkshire BS solicitor panel. They have just billed me a further fee for the legal aspects of the Yorkshire BS mortgage. Is this a supplemental conveyancing fee specified by Yorkshire BS?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your lawyer is entitled to levy a fee for this. This charge is not dictated by Yorkshire BS but by your Chingford conveyancing practitioner. Some firms on the Yorkshire BS panel will quote ’dealing with mortgage’ fee and others do not.
My friend recommended that where I am purchasing in Chingford I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Chingford conveyancing searches. It is a large report of about 40 pages, listing and detailing important information about Chingford around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Chingford Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Chingford Education with maps and statistics, Local Amenities and other useful information regarding Chingford.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Chingford is the location of the property. Can you offer any guidance?
Flying freeholds in Chingford are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chingford you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chingford may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am looking to sell my property. My past lawyers have shut. I am in need of a recommendation of a conveyancing firm. I happen to live in Chingford if that makes things easier.
Please use our search tool to help you choose a solicitor for your conveyancing in Chingford. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
Please set examples of compelling benefits to selecting a high street conveyancing practitioner in Chingford
Plenty of house movers in Chingford prefer a local conveyancer so that they can visit just in case they have problems, and to execute mortgage deeds without using the post.
One could allege that there is a distinct edge in using a lawyer nearby to a property you are purchasing, due to the knowledge of the locality and possible local issues - but this is moot. The majority of conveyancers carry out their work online and may be anywhere in the world.