Is the fact that my solicitor in East London is not listed on my bank's conveyancing panel that there is a problem with the standard of her work?
That is most likely an incorrect assumption to make. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the East London conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
A friend advised me that in buying a property in East London there could be various restrictions affecting the ability to carry out external changes to the property. Is this right?
We are aware of a number of properties in East London which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in East London should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am buying a property in East London. One unusual aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Virgin Money your lawyer must check the conveyancing requirements outlined in Part 2 of UK Finance Lenders’ Handbook for Virgin Money. The Council of Mortgage Lenders’ Handbook includes minimum specifications for solar panel roof-space leases, and conveyancers are required to report to Virgin Money where a lease fails to satisfy these specifications. The specifications relate to the installation of panels on properties nationwide and is not restricted to East London.
My fiancee and I are at the point of looking at houses in East London and I am now considering a potential offer. Is it too early to have a solicitor in place? I am planning to take a mortgage with Aldermore.
It would be prudent to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are seeking a mortgage with Aldermore, ask your prospective lawyers if they are on the Aldermore conveyancing panel otherwise they can't do the mortgage legal work.
Various web forums that I have visited warn that are the primary cause of obstruction in East London house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are unlikely to feature in any holding up conveyancing in East London.
The estate agent has sent us the confirmation of our purchase of a new build flat in East London. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in East London
Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. East London is the location of the property. Is there any guidance you can impart?
Flying freeholds in East London are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in East London you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in East London may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.