My fiance and I are looking to purchase a house in Poplar and are in fact using a Poplar conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Nottingham Building Society have this evening contacted us to inform me that there is now an issue as our Poplar solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Poplar lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
The vendors of the house we are purchasing hired a conveyancing solicitor in Poplar who has suggested a exclusivity agreement with a deposit two thousand pounds. Are such contracts appropriate for Poplar conveyancing transactions?
Exclusivity contracts are agreements between a property seller and purchaser granting the buyer a ‘clear field’ to purchase the premises for a certain period of time. For all intents and purposes, a lock out is a document specifying that you will have a contract at a later time which is the main conveyancing contract. It tends to be used for buyer protection though in many situations, the vendor may enjoy an upside from such agreements as well. There are many pros and cons to having an agreement but you should to check with your conveyancer but beware that it may result in costing you extra in conveyancing charges. In light of this these contracts are not popular when it comes to conveyancing in Poplar.
Can I use your services to find a Conveyancing solicitor in Poplar even where I’m not buying or disposing of a house, for instance if I wish to buy an office in Poplar with a mortgage from Coventry Building Society?
Our search tool is mainly utilised to help choose domestic conveyancing solicitors in Poplar but we have set out at the bottom of this page a selection of Poplar commercial conveyancing firms. You should enquire with the firm directly to establish if they are also authorised to represent Coventry Building Society
I can see plenty of here concerning conveyancing in Poplar but what is your top tip for selecting the right conveyancer in Poplar
It would be unwise to be seduced by the lowest Poplar conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
This question may be naive but I am new to the process as a first time purchaser of a garden flat in Poplar. Do I pick up the keys to the house on completion from my lawyer? If this is the case, I will appoint a High Street conveyancing solicitor in Poplar?
On the day of completion you will not be required to attend the conveyancers office in Poplar. Your solicitors will electronically transfer the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you will be invited to collect the keys from the selling Agents and start moving into the property. Usually this occurs early afternoon.
I was told two weeks ago that my mortgage has been agreed to by RBS. Is it usual for RBS to only issue the offer once my solicitor in Poplar is approved on their conveyancing panel? RBS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in Poplar I like with open areas and railway links nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Poplar suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the shortness of the lease will be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
I need to appoint a conveyancing solicitor for freehold conveyancing in Poplar. I happened to land on a site which appears to be the perfect solution If it is possible to get all this stuff completed via web that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?