I am buying a house for cash in East London. I have lived for the last dozen years in East London. Conveyancing searches are expensive. As I have knowledge of the area and road intimately should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a mortgage, then the vast majority of the East London conveyancing searches are non-obligatory. Your lawyer will 'advise', no-doubt strongly, that you should have searches completed, but she has a professional duty to do this. Do consider; if you are intend to dispose of the house in the future, it may be of importance to your prospective purchaser what the searches reveal. Sometimes houses with functional issues can still reveal unfavourable search results. A competent conveyancing solicitor in East London will be able to give you some helpful guidance in this regard.
What does my ID and proof of funds have anything to do with my conveyancing in East London? Why is this being asked of me?
East London conveyancing solicitors and indeed property lawyers throughout the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and proof of address (usually a Bank Statement no older than three months).
Evidence of source of funds is also required in accordance with the money laundering statutes as solicitors are mandated to check that the monies you are using to buy a property (be it the exchange deposit or the total purchase monies where you are a cash purchaser) has originated from a reputable source (such as an inheritance) and is not the fruits of illegitimate behaviour.
Me and my partner are buying a flat in East London. I might seem paranoid but how we can trust a lawyer? On the day of competition we have to put our life savings into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I had a mortgage agreed in principle with Principality. East London conveyancing practitioners were appointed. What is the average time that one could expect to receive a mortgage offer from Principality?
Some lenders take longer than others. Have Principality done the valuation? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Completion of my remortgage has taken place for my property in East London. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am purchasing a property and the solicitor has referenced Chancel Repair to which the house could be obligated to pay given it’s proximity to the area of such a church. She has suggested insurance. Is this strictly warranted for conveyancing in East London
Unless a prior purchase of the premises completed post 12 October 2013 you may take it that lawyers handling conveyancing in East London to remain encouraging a chancel search and or chancel repair liability insurance.
In what way does the Landlord & Tenant Act 1954 affect my commercial premises in East London and how can your lawyers assist?
The 1954 Act gives protection to business lessees, giving them the a statutory right to apply to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. East London is one of the hundreds of areas of the UK in which the firms we work with are based
My lawyers in East London have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with the mortgage company. Is it case that being on the bank conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the bank directly.