My brother and I have just purchased a house in Chingford. We have since encountered a number of problems with the house which we consider were overlooked in the conveyancing searches. Is there anything we can do? What searches should? have been conducted as part of conveyancing in Chingford?
It is not clear from the question as what problems have arisen and if they are unique to conveyancing in Chingford. Conveyancing searches and due diligence initiated as part of the buying process are supposed to help avoid problems. As part of the process, the vendor completes a form known as a SPIF. answers turns out to be inaccurate, then you may have a claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Chingford.
We wanted to use a conveyancing solicitor in Chingford for our house move. Our financial adviser informed us that our mortgage lenders Virgin Money won't deal with them. Surely this is unduly restrictive?
Banks ordinarily restrict either the type or the volume of conveyancing practices on their panel. A common example of such restriction(s) being that a firm must not be a sole practitioner. As well as restricting the type of firm, some have limited the number of firms they use to represent them. Be aware that Virgin Money have no responsibility for the quality of advice provided by any member of Virgin Money Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels a few years ago even though there remains mixed views about the level of solicitor engagement in some of that fraud. Statistics from the Land Registry indicate that thousands of law firms, including some in or near Chingford only conduct one or two conveyances per annum.
When it comes to mortgage companies such as Clydesdale, do Chingford lawyers have to pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
Can I be sure that the Chingford conveyancing solicitor on the Leeds Building Society panel is any good?
When it comes to conveyancing in Chingford obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor handling your conveyancing.
I have a mortgage with UBS for my property in Chingford. Conveyancing was finalised some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform UBS?
UBS must be informed of your intention before renting your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. It should not be necessary to do this via a UBS conveyancing panel solicitor.
Due to the encouragement of my in-laws I had a survey completed on a house in Chingford in advance of instructing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some lenders will not grant a loan on a flying freehold property.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Chingford. Conveyancing may be slightly more expensive based on your lender's requirements.
We are one month into a residential purchase having been directed to solicitors by the high street agent to execute conveyancing in Chingford. I am am very frustrated with the level of service. Could you help me find new conveyancers?
A conveyancer would need to be really bad in order to consider replacing them. Has the loan offer been generated? If so you need to make them aware of the new contact details and have the offer are re-sent. Your new solicitor ideally needs to be on the banks panel to avoid added costs and delays. That should be your first question of the new lawyers. The find a solicitor tool can help you find a lender approved conveyancer for your home move in Chingford
My partner and I are acquiring a garden flat in Chingford. When we first instructed conveyancing practitioner, they assured us that they were on all major UK mortgage company panels. The financial adviser emailed today to advise that they are not on the Santander approved list. Were it to be true, what should we do? Do we simply find a new conveyancing practitioner that is on their panel or should we pay for separate representation, with Santander appointing their own preferred property lawyer.
If you are buying a property requiring a mortgage it is normal for the purchaser’s lawyers to also represent the mortgage company. In order to act for a bank or building society a property lawyer has to be on that lender's list of approved lawyers. An application has to be made by the property lawyer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancer has to meet. Some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact Santander to discover if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on Santander's conveyancing panel and you may continue to use your own Chingford solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.