Me and my partner are hoping to purchase a 3 bedroom apartment in Bow with a mortgage. We have a Bow lawyer, however the mortgage company says he's not on their "panel". It appears that we have no choice but to select one of the mortgage company panel solicitors or continue with our Bow conveyancer as well as pay for one of their panel lawyers to represent them. We consider that this is inequitable; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Bow conveyancing lawyer to apply to be on the conveyancing panel.
My wife and I are buying a apartment in Bow. It might be a silly question but how we can trust a lawyer? On the day of competition we will need to put money into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
is it true that all Bow solicitors on the Nottingham conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Nottingham conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Some lenders do list licenced conveyancers on their panel in which case such practice would be governed by the CLC.
I am selling my flat. I had a double glazing fitted in May 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nottingham are being difficult. The Bow solicitor who is on the Nottingham conveyancing panel is recommending indemnity insurance as a solution but Nottingham are requiring a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Due to the input of my in-laws I had a survey completed on a house in Bow prior to instructing conveyancers. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some lenders may refuse to grant a loan on this type of home.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bow. Conveyancing will be smoother if you use a solicitor in Bow especially if they are accustomed to such properties in Bow.
I am using a search engine for the phrase cheap conveyancing in Bow it shows results of numerous conveyancersin the area. With so much choice what is the best way to find the right conveyancer for purchase transaction?
The preferential method of seeking a suitable conveyancer is via personal referral, so seek the opinion of friends and those you trust who have bought a property in Bow or the respected estate agent or mortgage broker. Charges for conveyancing in Bow differ, so it's sensible to secure a minimum of four quotes from different law firms. Dont forget to clarify what costs in the quote includes.
Having had my offer accepted I require leasehold conveyancing in Bow. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Bow - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Bow conveyancing firm to represent me?
Absolutely. We can put you in touch with a Bow conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Bow residence is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.
When it comes to my conveyancing in Bow should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Bow conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.