Me and my partner are acquiring property in Plaistow. My lawyer is not listed on the mortgage company approved list. Am I still permitted to retain my Plaistow conveyancing solicitor even though they are not on the bank panel of approved conveyancing solicitors?
Various options include
- Proceed with your existing Plaistow solicitor but your mortgage company will no doubt use a solicitor from their approved panel. This will result in additional charges and potential frustration.
- Appoint a new property lawyer to act in the purchase, obviously checking they are on the bank conveyancing panel.
- Convince your lawyer to seek to join the lender panel
We note that you have a post code search directory listing firms on the Santander conveyancing panel. Do firms pay you a referral fee if I appoint them for our own conveyancing in Plaistow?
We are a listing service only for law firms wishing to communicate if they are on the Santander conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Plaistow.
My father informed me that in purchasing a property in Plaistow there could be a number of restrictions prohibiting external changes to a property. Is this right?
There are anumerous of properties in Plaistow which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Plaistow should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My lawyer has informed me that absentee landlord insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Plaistow?
The appropriate level of absentee landlord indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and Leeds Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
Barclays have agreed my home loan in principle, my bid on a flat in Plaistow has been accepted, what happens next?
The property agent will need to be informed of your solicitor's details (be sure the lawyers are on the bank’s approved list). Contact Barclays or the broker and complete any relevant forms. Barclays will sellect a valuer who will get in contact with the estate agent or seller to book a slot for the valuation to occur. Once conducted (assuming no problems) it takes about a week to receive the mortgage offer. Barclays will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Plaistow.
Over the last few months I have been searching for a ground for flat up to £305k and found one near me in Plaistow I like with open areas and transport links nearby, the downside is that it only has 52 years on the lease. There is not much else in Plaistow for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the shortness of the lease will be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
Should I be wary about estate agents that I am dealing with are encouraging me to use a nationwide conveyancing firm as opposed to a local Plaistow conveyancing firm?
As with lots of professional services, often input from connections can be very helpful. But there are numerous players in a conveyancing matter; estate agents, mortgage brokers and lenders might all put forward conveyancers to instruct. On occasion the lawyers might be known to one of the organisations as experts in their field, but sometimes there might be a commercial relationship behind the recommendation. You are at liberty to select your own lawyer. Don't forget that the majority of lenders specify a panel list of law firms you have to use for the lender related work in your transaction.
I am thinking of appointing a conveyancing practitioner in Plaistow for my sale. Is there any facility to check a firm’s record with the legal regulator?
You can see presented Solicitor Regulator Association (SRA) decisions resulting from investigations started on or after Jan 2008. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The regulator may recorded telephone calls for training requirements.