I plan on purchasing property in Beckton. My Solicitor is not listed on the lender approved panel. Am I still permitted to continue with my Beckton conveyancing solicitor notwithstanding that they are excluded from the bank approved list?
You have a couple of alternatives available to you here
- Carry on with your preferred Beckton conveyancer but your bank will need to instruct a conveyancing practitioner on their approved panel. The net result is additional cost and potential delay.
- Get a fresh solicitor to act in the purchase, ensuring that they are on the mortgage company conveyancing panel.
- Convince your lawyer to pull out all the stops to get accepted on the bank’s conveyancing panel
My lawyer has discovered a a problem with the lease for the apartment we are buying in Beckton. The seller’s lawyers have offered defective title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor says that he must check that the mortgage company is happy with this solution. Who is the client here, us or the mortgage company ?
Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the bank are the client. The appropriate lender specifications have to be complied with.
I am the registered owner of a freehold residence in Beckton but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Beckton and has limited impact for conveyancing in Beckton 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 many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I am aiming to move house in May. Does my conveyancing solicitor update the removal company on the completion day. Incidentally, can you put forward a removal company in Beckton. Conveyancing lawyer was found prior to coming across this website.
On the day of completion you will need to pick up the house keys from the selling agent however this should only occur after the previous owners conveyancers inform the agent that they have the completion monies and the keys can be handed over. After that you should inform the removal company that they can start moving you in. We do not recommend a particular removal organisation but can help you find a residential property solicitor in Beckton or a legal practice with expertise in conveyancing in Beckton.
I was told two weeks ago that my mortgage has been agreed to by Nationwide. Is it usual for Nationwide to only issue the offer once my solicitor in Beckton is approved on their conveyancing panel? Nationwide have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nationwide to deal with your lawyer's application to be on the Nationwide conveyancing panel. There's no guarantee that your solicitor will be accepted.
Co-operative have agreed my mortgage in principle, my offer on a property in Beckton has been agreed to, now what?
Your property agent will wish to be informed of your conveyancing practitioner's details (make sure the lawyers are on the lender’s approved list). Telephone Co-operative or your broker and finalise any outstanding forms. Co-operative will instruct a valuer who will get in touch with the selling agent or seller to arrange a time for the valuation to happen. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Co-operative will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Beckton.
A relative suggested that where I am purchasing in Beckton I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Beckton conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Beckton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Beckton Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful information concerning Beckton.
I am buying a flat with all finances in place. My solicitor has been given with two distinct evidence of photo identification, bank statement, endless utility bills. Now he wants a copy from a probate lawyer advising that the money is legitimate and that it has come from inheritance and not dealing E's in Ibiza.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Beckton conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.