I am not well enough to travel far from Hackney Marshes. Is there a reason why all Hackney Marshes conveyancers aren't automatically on all bank panels?
Before the recession most mortgage companies displayed an approach to risk which differs from the current day. The FSA in 2010 instigated a thematic review into property fraud which in summary warned lenders: know the lawyers on your panel. Consequently, banks have subsequently soughtmore data from law firms about their operations and the individuals employed by them and set certain criteria such as completing a minimum volume of transactions. Hundreds of law practices have been removed from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms found it impossible satisfy the minimum amount of transactions the mortgage companies required.
My partner and I swapping mortgage lender for our penthouse in Hackney Marshes with Virgin Money. We have a son 18 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this form unique to the Virgin Money conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Virgin Money. This is solely used to protect Virgin Money if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Virgin Money had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
My wife and I are buying a apartment in Hackney Marshes. It might be a silly question but how we can trust a solicitor? At some point we will need to send funds 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.
We are planning to move property in November. Will my conveyancing solicitor communicate with the removal company on the day of completion. Incidentally, can you suggest a removal company in Hackney Marshes. Conveyancing lawyer was organised before I stumbled across your page.
On the day of completion you will need to collect the keys from your property agent but this can only occur after the vendors solicitors inform the agent that the monies to complete are in and the keys can be handed over. After that you will need to inform the removal men that they can start moving you in. We are not in a position to suggest a specific removal organisation but can help you choose a residential property solicitor in Hackney Marshes or a legal practice with expertise in conveyancing in Hackney Marshes.
Two weeks ago we had a mortgage agreed in principle with UBS. Hackney Marshes conveyancing practitioners have been selected. How long does it take for UBS to forward the offer to the conveyancing practitioner?
Some lenders take longer than others. Have UBS conducted the survey? Have you informed UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Various online forums that I have come across warn that are a common cause of delay in Hackney Marshes conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Searches are unlikely to be the root cause of delay in conveyancing in Hackney Marshes.
Despite weeks of looking the Title Certificate and documents to our property are lost. The conveyancers who did the conveyancing in Hackney Marshes 10 years ago are no longer around. What are my options?
Gone are the days when you need to hold title original deeds to prove you are the owner of your registered land or property, as the Land Registry have everything they need in a digital format.
I am buying my first flat in Hackney Marshes with a mortgage from Chelsea Building Society. The sellers would not move on the price so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not disclose to my conveyancer about this side-deal as it could jeopardize my mortgage with the lender. Should I keep quiet?.
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.