I had intended to instruct a property lawyer in East Beckton for our house move. Our broker informed us that our mortgage lenders HSBC Bank won't deal with them. Why is this not regarded as unfair competition?
Lenders in the main restrict either the category or the amount of conveyancing solicitors on their member panel. A common example of such criteria being that a firm must not be a sole practitioner. In addition to restricting the type of firm, a few banks have reduced the number of solicitor practices they use to act for them. Be aware that HSBC Bank have no responsibility for the quality of advice provided by any member of HSBC Bank Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of solicitor panels since 2008 even though there are differing opinions regarding the level of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that plenty of law firms, including some in or near East Beckton only execute very few conveyances per annum.
When it comes to lenders such as Principality, do East Beckton solicitors incur an annual charge to be on the list of approved solicitors?
We are unaware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I have paid off my mortgage with TSB. I assume I don't need a East Beckton lawyer on the TSB panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your TSB 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 TSB mortgage from the register. TSB, 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 TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I am due to exchange contracts on my house. I had a double glazing fitted in February 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Leeds Building Society are being difficult. The East Beckton solicitor who is on the Leeds Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Leeds Building Society are insisting on a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society 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.
A relative suggested that if I am purchasing in East Beckton I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes included in the estimate for your East Beckton conveyancing searches. It is not a small report of more than thirty pages, listing and setting out important information about East Beckton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information concerning East Beckton.
Despite weeks of looking the Title Certificate and documents to our house are lost. The lawyers who conducted the conveyancing in East Beckton 4 years ago no longer exist. Will I be able to sell the house?
These day there are copies made of almost everything, and your conveyancer will know exactly where to look for all the suitable paperwork so you may purchase or dispose of your house without any difficulty. Where duplicates are not available, your solicitor can put in place insurance or indemnities protecting you against possible claims on your premises.
In searching the internet for the words cheap conveyancing in East Beckton it shows results of numerous conveyancersin the vicinity. How do I determine which is the right conveyancer for me?
The best method of choosing a suitable conveyancer is via personal recommendation, so ask friends and family who have purchased a property in East Beckton or a reputable estate agent or financial adviser. Costs for conveyancing in East Beckton differ, so it's advisable to secure at least three estimates from different conveyancers. Make sure that you clarify what costs in the quote includes.