Me and my partner are purchasing a leasehold flat in Clapton. My property lawyer is not on the bank approved panel. Am I still permitted to appoint my Clapton conveyancing solicitor notwithstanding that they are excluded from the bank panel of approved conveyancing solicitors?
One will need to appoint a property lawyer to complete the formalities when you need a mortgage to buy your home. They will conduct all the appropriate investigations on the property, make sure that you will be registered as proprietor and ensure that all the required mortgage paperwork is dealt with. One could appoint a Clapton solicitor of your choosing. However, where the property lawyer appointed is not on the mortgage company approved list further costs will be levied as separate legal representation will be required by them. Lender panel applications can be submitted, so where your solicitor has not previously sought membership they can do so.
I purchased a freehold residence in Clapton but still charged rent, why is this and what is this?
It is rare for properties in Clapton and has limited impact for conveyancing in Clapton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I am helping my step-mother sell her property in Clapton. Will the conveyancing solicitor commission an EPC or should I organise this?
Following the abolition of HIPs, energy assessments remained a compulsory component of selling a house. An energy performance certificate should be to hand before the property is advertised. It is not a task that lawyers ordinarily arrange. If you are using a Clapton conveyancing solicitor they may be able to arrange EPC’s due to their contacts with reputable local energy assessors
My bid for a property was accepted at auction in Clapton. Conveyancing is needed. What is next?
Now that you are for all intents and purposes signed on the dotted line you should choose a conveyancing practitioner quickly as you now have a tight deadline in which to complete the deal. Every auction property will ordinarily have a bespoke legal set of papers. This will include evidence of title and search results. In the case of leasehold premises the auction papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You need to hand this to the conveyancer instructed by you at the earliest opportunity. Do make sure that your finances are organised to complete the transaction on the set completion date.
After much negotiation I have agreed a price on a house in Clapton. My financial adviser suggested a lawyer. I paid an upfront payment of £225. Not long after, the conveyancer called me to say that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
How does conveyancing in Clapton differ for newly converted properties?
Most buyers of new build residence in Clapton contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Clapton 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 used to new build conveyancing in Clapton or who has acted in the same development.
My cousin has encouraged me to appoint his conveyancers in Clapton. Should I find my own conveyancer?
Much as we are happy to recommend a Clapton conveyancing lawyer it’s preferable to choose a conveyancing practitioner is to have recommendations from friends or family who have previously instructed the conveyancer that you are contemplating using.
My step-son is embarking on her first house purchase, the home loan was agreed last week in principle. When the seller agreed the offer on the apartment we telephoned the building society to progress the mortgage application. I was disappointed to discover that mortgage lenders do not accept all property lawyer, they have to be on a list, is this legal?
Banks ordinarily imposes restrictions either the type or the number of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Clapton conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.