My husband and I are buying a flat in Limehouse. My property lawyer is not listed on the bank conveyancing panel. Am I still permitted to appoint my Limehouse conveyancing solicitor even though they are not on the mortgage company list of approved lawyers?
One must appoint a conveyancer to deal with the formalities when you require a loan to buy your home. The conveyancer will conduct all the necessary legal checks on the property, ensuring that you will be properly registered as the owner and ensure that all the necessary mortgage paperwork is dealt with. One may instruct a Limehouse conveyancer of your choosing. Nevertheless, where the solicitor appointed is not on the lender solicitor panel further charges will be incurred as separate legal representation will be required by them. Bank panel applications can be submitted, so where your solicitor has not in the past sought membership they should take the chance to apply.
Do the Building Society Association intend to launch a search tool with a view to to identify law firms on the Earl Shilton BS conveyancing panel for example in Limehouse?
We are not aware of any plans on the part of the BSA to develop such a search facility.
When it comes to lenders such as Yorkshire BS, do Limehouse conveyancers incur a yearly amount to be on the conveyancing panel?
We are unaware of any bank fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
I have a mortgage with Principality for my property in Limehouse. Conveyancing was finalised some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Principality?
You must advise Principality in advance of renting your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. It should not be necessary to do this via a Principality conveyancing panel lawyer.
Nationwide have agreed my mortgage in principle, my bid on a flat in Limehouse has been agreed to, what are the next steps?
Your estate agent will want to be advised as to your solicitor's details (be sure the solicitors are on the bank’s approved list). Contact Nationwide or your broker and finish off any appropriate forms. Nationwide will instruct a valuer who will get in touch with the estate agent or vendor to book an appointment. Once carried out (assuming no problems) it takes about ten days for the mortgage offer to be issued. Nationwide will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Limehouse.
I used Arc property Solicitors a few years ago for my conveyancing in Limehouse. Now, I need my documents but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Limehouse of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
About to purchase a new build flat in Limehouse. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Limehouse
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I'm buying a apartment in Limehouse. I can find my conveyancer's company on the CLC list, but I can't locate my lawyer's name on the list. Is this a big problem?
Not all staff in the law firm must be listed by the regulator. Provided there is someone qualified to 'oversee' the transaction, the actual day-to-day activity can be undertaken by unqualified staff.