My Stoke Newington solicitor has spotted an inconsistency between the assumptions in the home valuation report and what is in the conveyancing documents. My lawyer has advised that he must check that the bank is happy with this discrepancy and is still content to lend. Is my conveyancer’s stance correct?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I purchased a freehold premises in Stoke Newington but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Stoke Newington and has limited impact for conveyancing in Stoke Newington but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
I am buying a semi-detached house in Stoke Newington. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Stoke Newington you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Stoke Newington.
We are purchasing a flat in Stoke Newington. I might seem paranoid but how we can trust a lawyer? On the day of competition we will need to put our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is there a list of Coventry BS panel conveyancers in Stoke Newington on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association websites. Very few lending institutions make their panel listings open the public over the internet. Where you are seeking to appoint a Stoke Newington solicitor on the Coventry BS please make the most of our facility.
I currently have a mortgage with Nationwide for my property in Stoke Newington. Conveyancing was finalised 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Nationwide?
Your original mortgage agreement with Nationwide will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide 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 Nationwide directly. You need not do this via a Nationwide conveyancing panel lawyer.
We're new to the buying process - had an offer accepted, but the estate agent told us that the owners will only proceed if we use the agent's preferred conveyancers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a family conveyancer with experience of conveyancing in Stoke Newington
We suspect that the owner is unaware of this request. Should the vendor want ‘a quick sale', turning down a serious purchaser is is going to put the whole deal at risk. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you do not need to sell (d) you intend to proceed fast (e)but you are going to use your preferred Stoke Newington conveyancing firm - rather thanthose that will provide the negotiator at the agency a referral fee or hit his conveyancing figures pre-set by head office.
After what seems like an age a mortgage agreement from a bank for the remortgage of my 2 bedroom garden flat is due by the end of next week. Can you recommend an efficient remortgage conveyancing solicitor in Stoke Newington ?
You have come to the wrong place to search for a cheap conveyancing solicitors in Stoke Newington. Our aim is to provide cost effective conveyancing but we do not aim to advertise as being the cheapest. Avoid the trap of appointing brokers offering £99 conveyancing in Stoke Newington.In your best case scenario, in opting for cheap conveyancing, you will get what you pay for and at worst you will end up paying a lot in extras and still not get the service required.