We are hoping to buy a 1 bedroom apartment in Romford with a mortgage. We like our Romford conveyancer, however the bank advise he's not on their "panel". It appears that we have little option but to select one of the mortgage company panel firms or continue with our Romford conveyancing practitioner and pay for one of their panel firms to act for them. We feel that 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 bank’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 Romford conveyancing solicitor to apply to be on the conveyancing panel.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one close by in Romford I like with a park and station in the vicinity, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Romford suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a mortgage that many years will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
I am selling my house. My previous solicitors has retired. I would be grateful for any recommendation of a conveyancing firm. Im based in Romford if that makes a difference.
You should use our search tool to help you choose a solicitor for your conveyancing in Romford. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
In surfing the web for the term on line conveyancing in Romford it shows results of numerous conveyancerslocally. How do I determine which is the right conveyancer for my move?
The preferential way of finding the right conveyancer is via trusted referral, so ask colleagues and family who have purchased a property in Romford or a local estate agent or mortgage broker. Costs for conveyancing in Romford differ, so it's a good idea to secure a minimum of three quotes from different property lawyers. Make sure that you clarify that the fees are fixed.
How much will conveyancing in Romford cost?
Almost all Romford conveyancing firms will agree to a standard fee. If additional work become due during the transaction your conveyancer is duty bound to disclose to you in writing of any supplemental charges for any work as soon as it becomes apparent. Some companies may agree not to render an invoice if the deal falls through, others will levy an bill for a fraction of the agreed fee, calculated based on the stage at which the transaction aborts.
It may be helpful for you to seek two or three practices to give you a quotation.