The housing market in Whitechapel is heating up. What can be done to hasten the buying process?
In the event that the seller is applying time constraints for your conveyancing it is highly recommended that your conveyancer is familiar with the area as they will benefit local relationships and knowledge. It is even conceivable that they could have conducted previoushouses in the same road. You would be best advised to use a Whitechapel conveyancing lawyer. Second, be sure that the lawyer is on the member panel. It is estimated that just under twenty per cent of Whitechapel conveyancing transactions are frustrated or jeopardised after discovering a buyer’s solicitor was not on their banks member panel. In many cases this discovery resulted in the buying process being frustrated by as much as 21 days. It is believed that this issue affects approximately one hundred thousand home moves every year. Almost all Whitechapel conveyancing practices can not represent certain lenders so do check as early as possible.
I have today made my last payment due on my mortgage with Principality. I assume I don't need a Whitechapel conveyancer on the Principality panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
I am selling my house. I had a double glazing fitted in February 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Lloyds are being a right pain. The Whitechapel solicitor who is on the Lloyds conveyancing panel is recommending indemnity insurance as a solution but Lloyds are requiring a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds 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.
Clydesdale have agreed my home loan in principle, my offer on a house in Whitechapel has been agreed to, now what?
The estate agent will want to know who your solicitors are (be sure the property lawyers are on the bank’s panel). Telephone Clydesdale or the financial adviser and finalise any relevant documentation. Clydesdale will appoint a valuer who will get in touch with the estate agent or seller to schedule a time for the valuation to happen. Once conducted (assuming no problems) it takes approximately a fortnight to get a mortgage offer. Clydesdale will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Whitechapel.
A colleague recommended that if I am purchasing in Whitechapel I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Whitechapel conveyancing searches. It is a large report of about 40 pages, listing and detailing important information about Whitechapel around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Whitechapel Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Whitechapel Education with plans and statistics, Local Amenities and other useful data concerning Whitechapel.
I am purchasing a new build house in Whitechapel benefiting from help to buy. The builders refused to move on the amount so I negotiated £7000 of additionals instead. The house builders rep suggested that I not to tell my conveyancer about the deal as it will put at risk my mortgage with the bank. Should I keep quiet?.
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.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a quick, no chain conveyancing. Whitechapel is the location of the property. Can you shed any light on this issue?
Flying freeholds in Whitechapel are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Whitechapel you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Whitechapel may determine 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 need to appoint a conveyancing solicitor for some conveyancing in Whitechapel. I happened to discover a site which appears to be the perfect answer If it is possible to get all this stuff completed via web that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?