I am nearing exchange of contracts for my ground floor flat in Walthamstow and the EA has just e-mailed to advise that the purchasers are swapping solicitor. The reason given is that the bank will only deal with solicitors on their conveyancing panel. On what basis would a major lender only deal with specific law firms rather the firm that they want to appoint for their conveyancing in Walthamstow ?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lending institutions blame a rise in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
My mortgage company has recommended a law firm on their panel based in Walthamstow but I would rather instruct a conveyancing lawyer in Walthamstow or nearer to where I live. Can you assist?
Not all Walthamstow conveyancing practitioners are listed all banks conveyancing panel. Please make the most of our find an approved solicitor tool to identify a Walthamstow conveyancing conveyancer on the on the bank panel.
Can I be sure that the Walthamstow conveyancing solicitor on the Bank of Ireland panel is any good?
When it comes to conveyancing in Walthamstow seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer handling your transaction.
I am due to exchange contracts on my house. I had a double glazing fitted in February 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Aldermore are being pedantic. The Walthamstow solicitor who is on the Aldermore conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Aldermore are requiring a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Planning on purchasing a maisonette in Walthamstow. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Walthamstow property lawyer is on the Leeds Building Society conveyancing panel.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Walthamstow is where the house is located. Is there any guidance you can impart?
Flying freeholds in Walthamstow are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Walthamstow you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Walthamstow may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am looking to sell my property. My previous conveyancers have shut. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Walthamstow if that makes a difference.
Please use our search tool to help you choose a solicitor for your conveyancing in Walthamstow. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
I am a negotiator for a long established estate agent office in Walthamstow where we see a few flat sales put at risk due to short leases. I have been given inconsistent advice from local Walthamstow conveyancing firms. Can you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Walthamstow conveyancing firm to act on my behalf?
You certainly can. We are happy to put you in touch with a Walthamstow conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Walthamstow premises is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case was in relation to 2 flats. The unexpired term was 72.02 years.