Am I correct in assuming that the fact that my solicitor in Mile End is not listed on my lender's conveyancing panel that there is a problem with the standard of the firm’s work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Mile End conveyancing firm and enquire why they are no longer on the approved list for your bank.
My husband and I are buying a newbuild apartment in Mile End with a residential mortgage from Chelsea Building Society.We like our Mile End conveyancing lawyer but Chelsea Building Society says he's not listed on their approved list of firms. we are left little option but to use a Chelsea Building Society panel solicitor or keep our preferred solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Chelsea Building Society use our lawyer?
No, not really. The loan issued to you is subject to its various provisions, one of which will be that solicitors must be on the Chelsea Building Society conveyancing panel. in the past, most mortgage companies 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 solicitors to apply to be on the conveyancing panel for Chelsea Building Society
How does conveyancing in Mile End differ for new build properties?
Most buyers of new build property in Mile End come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Mile End typically 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 conveyancers 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 used to new build conveyancing in Mile End or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a simple, no chain conveyancing. Mile End is where the house is located. What do you suggest?
Flying freeholds in Mile End are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Mile End you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mile End may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I'm converting the mortgage on my current property to a BTL loan with Platform Home Loans Ltd and I will use the rest of the raised equity as a deposit on further property. The neighborhood we are looking at is Mile End. Will your conveyancers be able to act for the two lenders and link together the two deals?
Do use our search tool on this page to be sure that the solicitors are on the appropriate lender panels. On the basis that they are the solicitor should be able to simultaneously deal with the two deals but you should have a chat with you lawyer and make clear your desired outcome and needs.
My brother has suggested that I use his conveyancers in Mile End. Should I use them?
No doubt the ideal way to find a conveyancing practitioner is to have recommendations from friends or relatives who have actually experience in using the firm you're considering.