Unfortunately I am unable to travel far from Chingford. I would like to know the understand why all Chingford lawyers are not on all bank panels?
Banks highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The dismissal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for mortgage companies to review their conveyancing panels, which kicked off a major policy change in the sector. This led to mortgage companies culling a number of firms off their official list of approved conveyancers .
I am buying a garden flat in Chingford. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Chingford you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Chingford.
I am assisting my step-mother sell her property in Chingford. Will the conveyancer commission an energy performance certificate or do I organise this?
Following the demise of Home Packs, energy performance certificates remained a mandatory component of moving house. An energy assessment must be commissioned prior to the property being advertised. This is not something that conveyancers ordinarily organise. If you are instructing a Chingford conveyancing practitioner they might be willing to arrange EPC’s given their relationships with reputable local assessors
We are getting a further advance on our home loan from Kent Reliance as we wish to conduct renovations to our home in Chingford. Do we need to choose a nearby Chingford solicitor on the Kent Reliance conveyancing panel to handle the paperwork?
Kent Reliance do not ordinarily instruct firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance list.
My sealed bid on a detached house in Chingford has been accepted, but there is a chain. The owners have put an offer on somewhere, but it’s not yet agreed to, and have viewings of other properties booked. I have instructed a high street conveyancing solicitor in Chingford. What do I do now? At what point do I apply for the mortgage with Santander?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then valuation, Chingford conveyancing search charges, etc). First, you should ensure that your conveyancing practitioner is on the Santander approved list. As to the subsequent phase this very much depends on the specifics of your case, desire for the property and on the state of the market. In a rising market many buyers will apply for a home loan with Santander and pay for the valuation and only if it was satisfactory would they request their conveyancing practitioner to proceed with the conveyancing in Chingford.
I'm buying my first flat in Chingford with the aid of help to buy. The builders refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not inform my lawyer about the side-deal as it could adversely affect my loan with Bank of Scotland. Do I keep my lawyer in the dark?.
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.
I am looking for a ground for flat up to £235,500 and found one near me in Chingford I like with a park and transport links in the vicinity, however it's only got 49 years on the lease. There is not much else in Chingford suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the remaining unexpired lease term may be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.