Unfortunately I am unable to travel far from Mile End. What is the rationale as to why all Mile End solicitors are not on all mortgage company panels?

Banks ordinarily restrict either the nature or the number of conveyancing practices on their panel. Typical examples of such restriction(s) being that a organisation must have two or more partners. As well as restricting the structure of firm, some lenders decided to limit the size of their panel they allow to represent them. It is worth noting that lenders have no accountability for the accuracy of advice supplied by any Mile End property lawyer on their panel. Mortgage fraud was a key driver in the reduction of solicitor panels in the last decade even though there are conflicting opinions concerning whether solicitors sat at the center of that fraud. Data published by HM Land Registry reveal that thousands of conveyancing practices only carry out a couple of conveyances a year. Those vindicating conveyancing panel pruning question why law firms deserve the right to be listed on a lender panel when it is apparent that conveyancing is not their speciality?

We are nearing an exchange on a property in Mile End and my parents have transferred the ten percent deposit to my solicitor. I am now told that as the deposit has been received from someone other than me my solicitor needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the lender concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?

The lawyer is legally required to clarify with lender to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.

Are the BSA planning on creating a search tool with a view to list solicitors on the Darlington Building Society conveyancing panel for instance in Mile End?

We have not been informed any plans on the part of the BSA to develop such a tool.

four months have elapsed following my purchase conveyancing in Mile End completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I've recently bought a leasehold house in Mile End. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Mile End. Can this matter be resolved via the Leasehold Valuation Tribunal?

Most definitely. We can put you in touch with a Mile End conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a Mile End residence is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.