We are buying a 3 bedroom apartment in Homerton with a mortgage. We wish to retain our Homerton lawyer, but the bank says he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or keep our Homerton solicitor and pay for one of their panel lawyers to represent them. This feels very unfair; can we not require that the lender use our Homerton solicitor ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. Another option that might be available is for your Homerton conveyancing solicitor to apply to be on the conveyancing panel.
My bid for a property was accepted at auction in Homerton. Conveyancing is necessary. What is next?
Having to in every practical sense signed on the dotted line you must appoint a conveyancing practitioner as a matter of priority as you will have a tight a drop dead date to complete the conveyancing. An auction property should have a corresponding auction pack. This will include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the auction papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You need to pass this on to the conveyancer instructed by you as soon as possible. You also need to ensure that you have funds in order to complete the transaction on the set completion date.
My wife and I buying a end of terrace house in Homerton. The intention is to carry out a loft conversion at the property.Will legal investigations on the property involve checks to ascertain if these works are permitted?
Your solicitor will check the deeds as conveyancing in Homerton can on occasion identify restrictions in the title deeds which restrict categories of changes or require the consent of another owner. Certain extensions call for local authority planning consent and approval in compliance with building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
Last month we had a mortgage agreed in principle with HSBC. Homerton conveyancing solicitors have been instructed. How long does it take for HSBC to forward the offer to the conveyancing practitioner?
There is no definitive answer here. Have HSBC conducted the survey? Have you advised HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
We are selling our home in Homerton and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any local conveyancer would know this is not the case. For the life of me I don't know why the purchasers instructed a web based conveyancing firm rather than a conveyancing solicitor in Homerton. Having lived in Homerton for six years we know of no issue. Should we contact our local Authority to get clarification need.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You need to check with 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 illness)
How does conveyancing in Homerton differ for newly converted properties?
Most buyers of new build property in Homerton contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is constructed. This is because house builders in Homerton usually purchase the site, 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 accustomed to new build conveyancing in Homerton or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Homerton in advance of appointing lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies may refuse to issue a loan on this type of premises.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. Should you wish to call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Homerton. Conveyancing may be slightly more expensive based on your lender's requirements.
Should I be wary that third parties that I am dealing with are recommending an online conveyancing firm as opposed to a High Street Homerton conveyancing firm?
As with many professional services, often input from connections can be extremely useful or valuable. Yet there are numerous players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all put forward solicitors to retain. Sometimes these conveyancers might be known to one of the organisations as experts in their field, but occasionally there might be a financial incentive behind the recommendation. You are at liberty to choose your own lawyer. Don't forget that most mortgage providers operate an approved list of conveyancers you have to use for the mortgage aspect of your transaction.