My husband and I are buying a 1 bedroom apartment in East Ham with a mortgage. We have a East Ham conveyancer, but the lender advise he's not on their "panel". It seems we have little choice but to select one of the mortgage company panel firms or continue with our East Ham property lawyer and pay for one of their panel firms to represent them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your East Ham conveyancing solicitor to apply to be on the conveyancing panel.
Is there a search tool that I can utilise to find out if the solicitor handling my conveyancing in East Ham is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Accord Mortgages Ltd thus paying £187.00 plus VAT in another set of legal costs.
You should take advantage of the find a lender approved solicitor tool on this site. Please choose the lender and type ‘East Ham’ or your preferred area and you will be presented with a number of lawyer offices in East Ham or nearest you.
Forgive me if this question is silly but I am unexperienced as FTB of a garden flat in East Ham. Do I collect the keys to the premises on completion from my lawyer? If this is the case, I will instruct a local conveyancing solicitor in East Ham?
On the day of completion you will not be required to attend the conveyancers office in East Ham. Conveyancing lawyers for you will arrange to send the purchase money to the owner’s lawyers, and shortly after the monies have arrived, you will be invited to collect the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
It is unclear whether my bank requires a lease extension. I have called my East Ham building society branch on a couple of occasions and was told it does not impact the mortgage offer and they will lend. My East Ham conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the conveyancing practitioner is on the bank panel, they must follow the CML Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
At last I have had an offer on a maisonette in East Ham agreed to, but there is a chain. The vendors have placed an offer on a flat, however it’s not yet agreed to, and are looking at other flats in the pipeline. I have instructed a high street conveyancing solicitor in East Ham. What do I do now? When should I get the mortgage application with Skipton started?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then survey, East Ham conveyancing search fees, etc). First, you must check that your property lawyer is on the Skipton approved list. Regarding the subsequent steps this very much dictated by the uniqueness of your transaction, attraction to the property and on the state of the market. In a rising market many buyers will apply for the mortgage with Skipton and pay for the valuation and only if it comes back ok would they request their solicitor to proceed with the conveyancing in East Ham.
What will a local search inform me about the house we're buying in East Ham?
East Ham conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search company for instance PSG The local search is essential in every East Ham conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your new home. The search will supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
Am I better off to instruct a East Ham conveyancing practitioner in close proximity to the house I am hoping to buy? We have a good friend who can conduct the conveyancing however they are based a couple of hundredkilometers away.
The benefit of a high street East Ham conveyancing practice is that you can pop in to execute paperwork, deliver your ID and pester them if necessary. Having local East Ham know how is a bonus. However it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and they were happy that should outweigh using an unknown East Ham conveyancing solicitor just because they are East Ham based.