Me and my partner are due to complete buying a property in Stechford but as a consequence of damage from some water damage at the property I have was able negotiate compensation from the owner of £3k in the form of a deduction in the price. This was going to be addressed as part of a side agreement yet Kent Reliance will not permit this. Should they have been involved?

The conveyancing practitioner being on a Kent Reliance approved list is obliged to inform Kent Reliance of any variations to the purchase price. If you prohibit your conveyancer to disclose the reduction to Kent Reliance then they would have to discontinue acting for you. In addition, Kent Reliance and you would have to appoint a new solicitor for your conveyancing in Stechford.

Please explain the implications if my solicitor is suspended from the HSBC Conveyancing panel ahead of completing my conveyancing in Stechford?

First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

I can see plenty of here about conveyancing in Stechford but what is your top tip for appointing the right conveyancer in Stechford

We would encourage you not to go for the cheapest Stechford conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.

We were going to get a DIP from Co-operative this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Co-operative recommend any Stechford solicitors on the Co-operative conveyancing panel, or is it better to go independently?

You will need to appoint Stechford solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.

Our offer on a semi in Stechford has been agreed to, the vendors do nevertheless have an associated purchase. The sellers have offered on a flat, however it’s not been accepted yet, and are looking at other apartments booked. I have selected a local conveyancing solicitor in Stechford. What do I do now? At what stage should I apply for the mortgage with Lloyds?

It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of one thousand pounds, then valuation, Stechford conveyancing search fees, etc). The first course of action is to check that your conveyancer is on the Lloyds conveyancing panel. As to the subsequent stages this very much dictated by the circumstances of your transaction, attraction to this property and on the state of the market. In a buoyant market the majority of purchasers would apply for a home loan with Lloyds and arrange for the valuation and only if it comes back ok would they request their lawyer to move forward with searches.

How does conveyancing in Stechford differ for newly converted properties?

Most buyers of new build or newly converted property in Stechford approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Stechford typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Stechford or who has acted in the same development.

I have miscalculated my finances and am a few grand short a 10% deposit on my flat purchase in Stechford , but I am keen proceed. What can I do?

You can agree a lower deposit. Most sellers will agree to a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment