My financial adviser has asked me for my Bethnal Green law firm’s panel member for the Nat West conveyancing panel. What is the best way to find this out. I have called my local Bethnal Green office but they have not responded to me.
The sensible thing to do is ask for this information from your Bethnal Green property lawyer . Most Bethnal Green law practices will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
My partner and I are purchasing a newly constructed apartment in Bethnal Green and my conveyancer is advising me that she has to the bank to reveal incentives from the builder. I am under pressure to exchange contracts and I have no desire to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
It is is a decade since I acquired my home in Bethnal Green. Conveyancing lawyers have just been retained on the sale but I can't track down the title deeds. Will this cause complications?
Don’t worry too much. First there is a possibility that the deeds will be with your mortgage company or they could stored with the lawyers who handled your purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring up to date copy of the land registers. Most conveyancing in Bethnal Green involves registered property but in the unlikely event that your property is unregistered it is more tricky but is not insurmountable.
How does conveyancing in Bethnal Green differ for new build properties?
Most buyers of new build property in Bethnal Green come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is built. This is because house builders in Bethnal Green typically buy the land, 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 conveyancers 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 accustomed to new build conveyancing in Bethnal Green or who has acted in the same development.
I'm remortgaging my existing house to a BTL loan with The Royal Bank of Scotland and intend to use the remaining equity as a deposit on another property. The location we are talking about is Bethnal Green. Will your lawyers be able to act for both sets of mortgage companies and link together the conveyances?
Make use of our search tool on this site to be sure that the solicitors are approved by both lenders. Assuming that they are your solicitor should be able to connect the two deals but you should talk with you lawyer and communicate your expectations and requirements.
Builders have suggested I use a conveyancer and I've obtained a quote from them. They are almost £400 less expensive than my preferred Bethnal Green solicitor. Should I use them?
Developers normally have lists of solicitors who are quick and who know the builder's paperwork and lawyer. Plenty of developers offer an inducement to select a preferred lawyer for this reason, any increased charges can be avoided and a builder will not put forward a conveyancing warehouse and run the risk of having the conveyancing delayed when they demand an exchange within a tight time frame. A counter-argument for not opting for the recommended conveyancer is that they may be reluctant to fight for your interests at the risk of alienating the housebuilder. If you worry that this may be the case you should keep with your local Bethnal Green solicitor.