I am in a contract race with another buyer for a property in Epping. What can be done to expedite the conveyancing process?
Where the seller is applying time constraints for your conveyancing it is advisable to make sure that your lawyer is familiar with the area as they will benefit local connections and know-how. It is even conceivable that they could have handled otherproperties in the same neighbourhood. You would be best advised to use a Epping conveyancing lawyer. In addition, be sure that the lawyer is on the on the approved list for your mortgage company. It is understood that nearly one in five of Epping conveyancing deals are frustrated or derailed after finding out that a buyer’s solicitor was not on their banks member panel. This can often result in the buying process being held up by as much as 21 days. It is estimated that this issue affects in the region of one hundred thousand home moves annually. Many Epping conveyancing practices can not represent certain lenders so do check as early as possible.
What happens if my lawyer’s firm is suspended from the Principality Conveyancing panel ahead of completing my conveyancing in Epping?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
My stepmother advised me that in purchasing a property in Epping there may be a number of restrictions preventing external alterations to the property. Is this right?
There are anumerous of properties in Epping which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Epping should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My solicitor has informed me that lack of planning permission insurance is required on my purchase. What is the level of cover for Epping conveyancing?
The appropriate level of lack of planning permission indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and Leeds Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
After what feels like an age I have had an offer on a flat in Epping accepted, but there is a chain. The owners have put an offer on a flat, however it’s not been accepted yet, and are looking at other properties in the pipeline. I have chosen a high street conveyancing solicitor in Epping. What do I do now? At what stage should I apply for the mortgage with Nationwide?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is in the region of one thousand pounds, then valuation, Epping conveyancing search fees, etc). The first thing to do is check that your lawyer is on the Nationwide conveyancing panel. Regarding the next stages this very much dictated by the circumstances of your case, motivation for this property and on the state of the market. In a buoyant market some purchasers will apply for a home loan with Nationwide and pay for the valuation and only if it comes back ok would they ask their conveyancing practitioner to press on with searches.
My wife and I are close to exchanging contracts on the sale of our house in Epping and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A local conveyancer would know that there is no such problem. It does beg the question why the buyers are using a factory type conveyancing practice as opposed to a conveyancing solicitor in Epping. We have lived in Epping for six years we know of no issue. Do we contact our local Authority to obtain clarification that the buyers are looking for.
It would appear that you have a conveyancing solicitor currently acting for you. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I am purchasing a new build house in Epping with the aid of help to buy. The builders refused to move on the price so I negotiated 6k of extras instead. The sale representative suggested that I not reveal to my lawyer about the deal as it may put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I note that you have a search directory identifying law firms on the bank conveyancing panel. Do Epping conveyancing firms pay you a referral fee if I retain them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Epping.