My wife and I are purchasing a 2 bedroom apartment in Shadwell with a mortgage. We wish to retain our Shadwell lawyer, however the bank advise he's not on their "panel". We have to appoint one of the bank panel firms or retain our Shadwell solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. 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 Shadwell conveyancing lawyer to apply to be on the conveyancing panel.
When can the exchange of contracts occur in residential conveyancing in Shadwell and do I need to attend the solicitors office?
Where you are round the corner to one of the conveyancing solicitors in Shadwell you are welcome to attend to sign the paperwork. That being said, the firms we work with provide a countrywide conveyancing service and provide as equally detailed and professional a job for you when communicating with you electronically. The signing of the property agreement is not the point of no return. A signed contract is just a prerequisite for the firm to address the formalities at the appropriate time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Shadwell)to be in the office at the appropriate time.
The Shadwell conveyancing firm that just started acting on my purchase in Shadwell have without warning shut down. I chose them because I needed a solicitor on the HSBC conveyancing panel and my preferred Shadwell lawyer was not. I gave my credit card details for them to take £195 for searches. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the HSBC conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
Do commercial conveyancing searches reveal proposed roadworks that may impact a commercial property in Shadwell?
Its becoming the norm that commercial conveyancing solicitors in Shadwell will order a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Shadwell. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Shadwell.
For each commercial conveyancing transaction in Shadwell it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can result in delays to Shadwell commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Shadwell.
I'm converting the mortgage on my primary home to a buy to let mortgage with The Mortgage Works and I will use the ballance of the raised equity as a deposit on further house. The neighborhood we are looking at is Shadwell. Will your solicitors be able to act for both sets of banks and link together the transactions?
Make use of our search tool on this page to be sure that the lawyers are approved by both lenders. On the basis that they are the conveyancer will be able to connect the two deals but you should talk with you solicitor and make apparent your desired outcome and needs.