We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Does this mean I have to use their panel conveyancer as I would much rather instruct a high street conveyancing solicitor in Bethnal Green?
Do check but the the likelihood is that give you one of their panel solicitors where you accept the "fee-free" deal. Contact the mortgage company and see if they make available a cash alternative. Some banks have previously offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Bethnal Green.
Will my lawyer be making enquiries about flooding during the conveyancing in Bethnal Green.
Flooding is a growing risk for lawyers dealing with homes in Bethnal Green. There are those who purchase a property in Bethnal Green, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to give advice on flood risk, however there are a various checks that can be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Bethnal Green. The standard information given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the seller to determine if the property has ever been flooded. If flooding has previously occurred and is not disclosed by the owner, then a buyer may issue a claim for damages as a result of such an misleading response. The buyer’s solicitors should also commission an environmental search. This should indicate whether there is a recorded flood risk. If so, more detailed investigations will need to be carried out.
How does conveyancing in Bethnal Green differ for newly converted properties?
Most buyers of new build residence in Bethnal Green come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Bethnal Green tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Bethnal Green or who has acted in the same development.
I am thinking of appointing a conveyancing practitioner in Bethnal Green for my purchase. Can I check a firm’s record with the legal regulator?
You may review documented Solicitor Regulator Association (SRA) determinations arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training reasons.
My wife and I are selling a Bethnal Green house we inherited seven years ago in 2011. I have over 12 years conveyancing experience and, now retired, wish to do my own conveyancing. The buyer's conveyancing practitioner has informed me that their Lenders will not allow you to do your own conveyancing insisting the funds to be passed via a solicitor's bank account.
Lending requirements to property lawyers from all mainstream lenders state that If the seller is not legally represented the borrower's lawyers should check whether the mortgage company needs to be told so that a decision can be reached as to whether they are prepared to move forward.