My best friend’s dad is a conveyancing practitioner. I suspect that I'll be able to get preferential pricing for conveyancing, but if not, what level of costs would I typically be looking at for conveyancing in Chingford?
Do compare pricing. Do use our search tool on this site. The amounts may vary but service levels do differ between law firms as is the case with most professions.
Do conveyancers request money up-front for my conveyancing in Chingford?
Where you are retaining lawyers for conveyancing in Chingford your lawyer will ask you place them with monies to cover the the cost of the conveyancing searches. Ordinarily this is needed to cover the fees of the Local Authority Search. When the deposit is payable against the sale price then this should be asked for immediately before contracts are exchanged. Any further balance that is needed should be transferred shortly before completion.
We're in Chingford, First time buyers purchasing with a mortgage (lender is Nationwide , and our solicitor is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Can you help - my lawyer says that chancel insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Chingford?
The right level of chancel indemnity insurance depends on who your lender is. It would differ for example between Halifax and Leeds Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
I am buying a property in Chingford. A rare aspect is that the roof has a solar panel. TSB have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is TSB your lawyer must check the formal instructions set out in Section two of UK Finance Lenders’ Handbook for TSB. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and lawyers are required to report to TSB where a lease does not meet these conditions. The provisions relate to the installation of panels on properties in England and Wales and is not limited to Chingford.
I have a mortgage with Yorkshire BS for my property in Chingford. Conveyancing was finalised months ago. In the event that I decide 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 Yorkshire BS?
Yorkshire BS must be informed of your intention before renting your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. In many cases banks or building societies 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 Yorkshire BS directly. You need not do this via a Yorkshire BS conveyancing panel firm.
I have been on the look out for a flat up to £305k and identified one close by in Chingford I like with a park and station in the vicinity, the downside is that it's only got 61 years on the lease. There is not much else in Chingford for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I am selling my property. My previous solicitors have shut. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Chingford if that makes things easier.
Do use our search tool to help you choose a solicitor for your conveyancing in Chingford. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.