Me and my partner are purchasing a 1 bedroom flat in Chingford with a mortgage. We have a Chingford conveyancer, however the bank advise he's not on their "panel". It appears that we have little option but to select one of the lender panel conveyancing practices or retain our Chingford solicitor as well as pay for one of their panel ones to act for them. This seems very unfair; 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 bank’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. Another option that might be available is for your Chingford conveyancing lawyer to apply to be on the conveyancing panel.
Would the conveyancing lawyers that you recommend handle attended exchange conveyancing in Chingford?
We do have a number of conveyancing specialists carrying out attended exchanges. Do call us to secure a conveyancing quote and details as to availability.
It is is a decade since I bought my property in Chingford. Conveyancing lawyers have just been appointed on the sale but I am unable to find my title documents. Is this a problem?
You need not be too concerned. First there is a possibility that the deeds will be retained by the lender or they could still be with the conveyancers who oversaw the purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring current official copies of the land registers. Nearly all conveyancing in Chingford involves registered property but in the unlikely event that your home is unregistered it is more of a problem but is not insurmountable.
We are purchasing a 3 bedroom semi in Chingford. The intention is to carry out an extension to the side at the property.Will the conveyancing process include checks to determine if these alterations are permitted?
Your property lawyer will review the registered title as conveyancing in Chingford can on occasion reveal restrictions in the title deeds which prevent categories of works or require the permission of another owner. Certain extensions require local authority planning consent and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be prudent to check these things with a surveyor prior to committing yourself to a purchase.
I have decided to exercise my right to buy my property in Chingford off the council. I have a mortgage offer with Santander. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
I currently have a mortgage with UBS for my property in Chingford. Conveyancing has been completed a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform UBS?
Your original mortgage agreement with UBS will provide that you need their approval prior to letting out your property as this is likely to be a breach of UBS’s mortgage conditions. It may be that UBS will permit you to let 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. You need not do this via a UBS conveyancing panel lawyer.
I completed on my house on 10 February and my personal details is not yet on the land registry website. Should I be concerned? My conveyancing solicitor in Chingford said it should be formalised inside ten days. Are properties in Chingford particularly slow to register?
As far as conveyancing in Chingford is concerned, registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether there are errors and whether the Land registry need to notify any third persons or bodies. As of today in the region of three quarters of submission are fully dealt with within two weeks but occasionally there can be longer delays. Registration is effected after the purchaser is living at the property thus 'speed' is not typically primary concern but if it is urgent that the the registration takes place urgently then you or your conveyancer could speak with the land registry and explain the circumstances.
How does conveyancing in Chingford differ for newly converted properties?
Most buyers of new build or newly converted property in Chingford come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Chingford usually 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 used to new build conveyancing in Chingford or who has acted in the same development.