My financial adviser has requested my Stratford law firm’s panel reference for the Nationwide conveyancing panel. Can you suggest how I find this out. I have contacted my local Stratford branch but they have not got back to me yet.
Have you tried calling your Stratford conveyancer about this?. Most Stratford law practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.
In what way does my ID and proof of funds have anything to do with my conveyancing in Stratford? Is this really necessary?
Stratford conveyancing solicitors and indeed property practitioners throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and proof of address (typically a Utility Bill less than 3 months old).
Confirmation of the origin of monies is also necessary under the money laundering regulations as conveyancers are mandated to check that the funds you are utilising to buy a property (be it the exchange deposit or the full purchase amount where you are buying without a mortgage) has originated from legitimate source (such as an inheritance) as opposed to the product of criminal activity.
Will my solicitor be asking questions regarding flooding during the conveyancing in Stratford.
Flooding is a growing risk for solicitors dealing with homes in Stratford. There are those who purchase a property in Stratford, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, but there are a number of checks that can be carried out by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Stratford. The standard property information forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a usual question of the vendor to discover whether the property has suffered from flooding. If flooding has previously occurred and is not notified by the seller, then a buyer could bring a claim for damages as a result of such an inaccurate answer. A purchaser’s lawyers may also carry out an enviro search. This will higlight whether there is any known flood risk. If so, more detailed investigations should be carried out.
How does conveyancing in Stratford differ for new build properties?
Most buyers of new build premises in Stratford contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is completed. This is because builders in Stratford tend to purchase the real estate, 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 accustomed to new build conveyancing in Stratford or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one round the corner in Stratford I like with open areas and station nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Stratford in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
In searching the web for the words cheap conveyancing in Stratford it shows results of many conveyancerslocally. How do I determine which is the right solicitor for the sale of my house?
The ideal method of finding the right conveyancer is through a trusted recommendation, so enquire of colleagues and relatives who have acquired a property in Stratford or the reputable estate agent or mortgage broker. Fees for conveyancing in Stratford differ, so it's sensible to request at least four estimates from varying types of conveyancers. Dont forget to clarify that the fees are fixed.