I had intended to instruct a property lawyer in Walthamstow for our house move. Our broker informed us that our mortgage company Chelsea Building Society won't deal with them. Surely this is unfair competition?
A decade ago most banks had a different appetite for risk. Almost all Walthamstow conveyancing firms would have been on most mortgage company panels. The FSA in 2010 carried out a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more information from law firms concerning their operations and their employees and set certain criteria such a completing on a minimum volume of conveyancing. Many Walthamstow conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Walthamstow is amongst the thousands of locations where the solicitors we recommend are on the panel for Chelsea Building Society.
Two weeks ago we had a mortgage agreed in principle with Principality. Walthamstow conveyancing lawyers have been chosen. How long does it take for Principality to issue the offer to the solicitor?
Some lenders take longer than others. Have Principality conducted the survey? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am currently in the process of buying my council flat in Walthamstow. I have a mortgage offer with Coventry BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Walthamstow solicitor - who is on the Aldermore conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Walthamstow postcode. As you are getting a mortgage with Aldermore, you could contact them to see if they have a list of approved surveyors in Walthamstow.
I am buying a new build apartment in Walthamstow. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Walthamstow
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are surveyor prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I have been on the look out for a ground for flat up to £305k and found one near me in Walthamstow I like with a park and station nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Walthamstow for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
Is there anything unique about your site and other internet conveyancing brokers for conveyancing in Walthamstow?
At this site receive an accurate costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the nuances of your conveyancing in Walthamstow. As opposed to estate agents and brokerage sites we do not charge firms a commission if you choose them for your conveyancing in Walthamstow
My husband and I are 3 weeks into a residential purchase having been directed to conveyancers by the selling agent to carry out the conveyancing in Walthamstow. I am not happy. Could you you assist me in finding new lawyers?
They would have to be really bad to suggest diss instructing them. Has your loan offer been generated? In the event that it has you need to make them aware of the new lawyer and ensure the mortgage documents are re-issued. The solicitor ideally needs to be on the banks approved list to avoid escalating charges and delays. That should be your first question of the new lawyers. The find a solicitor tool can assist you in finding a bank approved lawyer for your home move in Walthamstow