Why do I have to pay up front for conveyancing in Whitechapel?
If you are buying a property in Whitechapel your lawyer will ask you place them with funds to cover the the cost of the conveyancing searches. Generally this is asked for to cover the fees of the conveyancing searches. When the deposit is as part of the sale price then this should be required shortly ahead of exchange of contracts. The closing balance that is needed should be transferred a few days ahead of the day of completion.
We're in Whitechapel, First time buyers purchasing with a mortgage (lender is UBS , and our solicitor is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Various web forums that I have come across warn that are the number one cause of stalling in Whitechapel house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays during the legal transfer of property. Searches are unlikely to feature in any holding up conveyancing in Whitechapel.
I have a 4 bedroom Victorian house in Whitechapel. Conveyancing lawyer represented me and TSB. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the exact same address. Is it worth asking TSB to clarify?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Whitechapel and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing solicitor who conducted the work.
Am I better off to use a Whitechapel conveyancing lawyer based in the area that I am purchasing? I have an old university friend who can conduct the legal formalities however her office is approximately 350kilometers drive away.
The benefit of a high street Whitechapel conveyancing practice is that you can attend the office to execute paperwork, hand in your identification documents and pester them if necessary. They will also have local insight which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and in the main were happy that must outweigh using an unknown Whitechapel conveyancing lawyer just because they are round the corner.
Why can't I complete our conveyancing in Whitechapel on Easter Monday?
Because on completion the money needs to pass between the banks of the buyer and seller's lawyer and at present this can only take place on a business day. It is not possible to complete on a saturday or sunday either.