My conveyancer has discovered a a problem with the lease for the apartment we are purchasing in Chingford. The other side have offered defective title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer says that he must ensure that the lender is content with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
We note that you have a search directory listing law firms on the UBS conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Chingford?
We are a listing service only for law firms wishing to communicate if they are on the UBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Chingford.
My colleague advised me that if I am buying in Chingford I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Chingford conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Chingford around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information concerning Chingford.
How does conveyancing in Chingford differ for new build properties?
Most buyers of new build property in Chingford come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Chingford tend to purchase the real estate, 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 property lawyers 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 Chingford or who has acted in the same development.
Given that I am about to spend 450k on a garden flat in Chingford I wish to have a conversation with the lawyer about mytransaction ahead of appointing the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you speaking to the solicitor due to be carrying out your property ownership legalities in Chingford.There is no ‘factory style conveyancing’ - every client is unique individual, not a matter reference. The practices that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Chingford should be the amount on the final invoice that you are charged.
In my capacity as executor for the will of my grandmother I am disposing of a residence in Monmouth but reside in Chingford. My solicitor (who is 300 miles awayneeds me to sign a statutory declaration before completion. Can you recommend a conveyancing lawyer in Chingford to witness this legal document for me?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are located in Chingford