Is the fact that my conveyancer in Walthamstow is not on my bank's solicitor panel that there is a problem with the standard of his conveyancing?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack 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 contact the Walthamstow conveyancing firm and ask them why they are no longer on the approved list for your bank.
I own a freehold property in Walthamstow but still invoiced for rent, why is this and what is this?
It is rare for properties in Walthamstow and has limited impact for conveyancing in Walthamstow but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I am purchasing a new build house in Walthamstow with a loan from The Mortgage Works. The sellers would not move on the price so I negotiated 6k of additionals instead. The estate agent told me not reveal to my solicitor about the deal as it could affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the encouragement of my in-laws I had a survey completed on a house in Walthamstow ahead of instructing lawyers. I have been told that there is a flying freehold element to the house. The surveyor advised that some lenders may not give a loan on this type of home.
It depends who your proposed lender is. Santander has different requirements from Birmingham Midshires. If you e-mail us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Walthamstow. Conveyancing may be slightly more expensive based on your lender's requirements.
Your search tool is useful but there are many lawyers listed near Walthamstow being on the mortgage company conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the bank approved panel?
We do not recommend specific Walthamstow firms as the right Walthamstow conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Walthamstow knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..