Is the fact that my solicitor in Chingford is not on my mortgage company's conveyancing panel that there is a problem with the quality of his work?
That would most likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume 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. Should you be concerned you should contact the Chingford conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
My Chingford solicitor has identified a difference between the assumptions in the valuation report and what is revealed within the conveyancing documents. My lawyer informs me that he is obliged to ensure that the lender is happy with this discrepancy and is still content to lend. Is my solicitor’s stance legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
What is the difference between a licensed conveyancer and conveyancing solicitor in Chingford
There are many recorded licenced Conveyancers in Chingford and Solicitor firms in Chingford to choose from We would stress that both are regulated professionals specialising in the legal work in transferring property. They may both also conduct associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I am purchasing a property in Chingford. One unusual aspect is that the roof has a solar panel. RBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is RBS your lawyer must check the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for RBS. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and solicitors are required to report to RBS where a lease does not satisfy these specifications. The provisions relate to the installation of panels on properties nationwide and is not limited to Chingford.
I have decided to exercise my right to buy my property in Chingford off the council. I have a mortgage offer with TSB. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
I need some expedited conveyancing in Chingford as I have pressure to sign on the dotted line in less than 2 weeks. A home loan is not required. Is it possible to decline from having conveyancing searches to save money and time?
If.Given you are not getting a mortgage you are at free not to have searches conducted although no conveyancer would recommend that you don't. With plenty of history conveyancing in Chingford the following are instances of what can show up and therefore impact future mortgageability: Refused Planning Applications, Overdue Fees, Outstanding Grants, Unadopted Roads,...
Me and my brother have a renovated Edwardian property in Chingford. Conveyancing solicitor acted for me and Barclays . I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold under the exact same address. Is it worth asking Barclays to clarify?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Chingford and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing solicitor who completed the work.
Should I use a Chingford conveyancing practitioner based in the vicinity that I am purchasing? I have an old university friend who can handle the conveyancing however they are based a couple of hundredkilometers away.
The benefit of a high street Chingford conveyancing firm is that you can attend the office to sign paperwork, present your identification documents and pester them if necessary. Having local Chingford know how is a plus. However it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and they were happy that must trump using an unknown Chingford conveyancing solicitor solely due to them being based in the area.