Me and my partner are purchasing a 1 bedroom apartment in Chingford with a mortgage. We wish to retain our Chingford lawyer, however the mortgage company says she’s not on their "panel". We have to appoint one of the lender panel solicitors or keep our Chingford property lawyer as well as pay for one of their panel ones to act for them. We regard this is unjust; are we not able to insist that the bank use our Chingford solicitor ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. A further alternative is for your Chingford conveyancing solicitor to apply to be on the conveyancing panel.
We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to appoint their panel lawyer as I would much rather appoint a Chingford based conveyancing firm?
Do check but the the probability is that allocate you one of their panel lawyers if you want the "fee-free" incentive. Contact the lender and ask if they make available a cash alternative. Some lenders have previously offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor in Chingford.
three months have gone by since my purchase conveyancing in Chingford took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Chingford differ for newly converted properties?
Most buyers of new build or newly converted property in Chingford contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is finished. This is because developers in Chingford typically purchase 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 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 used to new build conveyancing in Chingford or who has acted in the same development.
Is it simple use the search facility to locate a conveyancing practitioner in Chingford on the authorised to act for my lender?
1st choose a lender such as Nationwide Building Society, Barnsley Building Society or Godiva Mortgages Ltd then choose your preferred area for example Chingford. Conveyancing practices in Chingford and across England and Wales should be shown.
I pay a maintenance contribution for my ground floor flat in Chingford. Due to redundancy and personal issues I slipped into arrears with remittance. The freeholders agreed a clearance schedule but there is still three thousand pounds outstanding as of today.
I now wish to dispose of the property and I am nervous that this can hold me back if I have to discharge the arrears now. Do I have to settle before - is this possible?
Your conveyancer should be in a position to negotiate with the management company, and agree with them whether or not they would accept payment from completion monies. This is an example of why it might be good to choose a conveyancer in Chingford as they may well have an established relationship with the management company.