We are buying a 2 bedroom flat in Chingford with a mortgage. We would like to retain our Chingford conveyancer, but the mortgage company advise she’s not on their "panel". It seems we have no choice but to select one of the mortgage company panel conveyancing practices or continue with our Chingford lawyer 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?
Unfortunately,no. 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 Chingford conveyancing solicitor to apply to be on the conveyancing panel.
My god-son is purchasing a new build apartment in Chingford with a home loan from UBS. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the UBS conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
In what way does my ID and proof of funds have anything to do with my conveyancing in Chingford? Is this really necessary?
Chingford conveyancing solicitors as well as nationwide property practitioners throughout the UK have an obligation under money laundering regulations to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and proof of address (usually a Bank Statement less than 3 months old).
Evidence of source of funds is also required under the money laundering laws as solicitors have a duty to ensure that the money you are utilising to acquire a property (whether it be the deposit for exchange or the full purchase amount if you are a cash purchaser) has originated from legitimate source (such as an inheritance) rather than the fruits of illegitimate activity.
We are getting a further advance on our home loan from Co-operative as we intend to carry out improvements to our home in Chingford. Do we need to appoint a high street Chingford solicitor on the Co-operative conveyancing panel to handle the paperwork?
Co-operative don't usually instruct firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in May 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Nottingham are being problematic. The Chingford solicitor who is on the Nottingham conveyancing panel is recommending indemnity insurance as a solution but Nottingham are insisting on 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.
I was told four weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Chingford is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
How do I identify a Chingford law firm on the Halifax conveyancing panel? I drive a motor bike and am willing to travel upto 20miles to meet the solicitor.
You can use the search on this page. Please choose the mortgage company and your location and you will see a number of Chingford conveyancing lawyers based on proximity. We have detailed some Chingford conveyancing firms at the bottom of this page and you can call them to check whether they are on the Halifax approved list
I need to find a conveyancing solicitor for sale conveyancing in Chingford. I happened to chance upon a site which looks to be the ideal offering If it is possible to get all formalities done via email that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?