I am not well enough to travel far from Stratford. What is the rationale as to why all Stratford lawyers are not on all bank panels?
Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The dismissal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for mortgage companies to review their conveyancing panels, which kicked off a major policy change in the sector. It resulted in banks and building societies pruning less reputable firms off their books of approved conveyancers .
My husband and I are only a couple days away from an exchange on a property in Stratford and my parents have sent the 10% deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my conveyancing practitioner needs to make a notification to my mortgage company. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
Your solicitor is obliged to check with the bank to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Finally the sale completed on my house in Stratford last November but our buyer keeps calling me to moan that their conveyancer is waiting to hear from myconveyancer. What are the post completion sale formalities following completion?
Following your house sale your lawyer is obliged to deliver the transfer deeds and all of the paperwork to the purchaser's conveyancer. Where relevant, your solicitor should also confirm that the legal charge in favour of the lender has been redeemed to the purchasers solicitors. There is unlikely to be post completion formalities peculiar conveyancing in Stratford.
Me and my partner are purchasing a property in Stratford. It might be a silly question but how we can trust a solicitor? On completion day we will need to put our life savings into their account. What is the protection we have from them run away with our deposit?
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.
Forgive me if this question is silly but I am unseasoned as FTB of a two bedroom flat in Stratford. Do I pick up the keys to the property on completion from my lawyer? If so, I will instruct a High Street conveyancing solicitor in Stratford?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the seller's conveyancers, and shortly after the monies have arrived, you will be invited to receive the keys from the property Agents and move into your new home. Usually this occurs early afternoon.
I am planning to move home in September. Does my conveyancing solicitor communicate with the removal company on the day of completion. As an aside, can you suggest a removal company in Stratford. Conveyancing lawyer was chosen prior to coming across your page.
On the afternoon of completion you can collect the house keys from your property agent but this can only be done when the vendors lawyers advise the agent that they have the completion monies and the keys can be handed over. You can advise the removal company that they can start moving you in. As a matter of policy we do not suggest a specific removal company but can help you find a conveyancing in Stratford or a lawyer that specialises in conveyancing in Stratford.
I'm purchasing a new build house in Stratford with a loan from The Royal Bank of Scotland. The developers would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not disclose to my solicitor about the deal as it could put at risk my mortgage with The Royal Bank of Scotland. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Is it simple use your search tool to find a conveyancing practitioner in Stratford on the panel for my mortgage?
Step one is to choose a lender such as Accord Mortgages Ltd, Virgin Money or Britannia then type in your location for instance Stratford. Conveyancing organisations in Stratford and beyond should be listed.