I am approaching an exchange on a property in East London and my parents have sent the 10% deposit to my solicitor. I am now told that as the deposit has not arrived from me my conveyancing practitioner needs to disclose this to my bank. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
The lawyer is legally required to check with the bank to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
What is the first thing I need to know about purchase conveyancing in East London?
You may not hear this from too many lawyers but conveyancing in East London or throughout London is often a confrontational experience. In other words, when it comes to conveyancing there exists lots of room for confrontation between you and other parties involved in the transaction. E.g., the vendor, selling agent and sometimes your lender. Selecting a law firm for your conveyancing in East London an important selection as your conveyancer is your adviser, and is the ONLY party in the transaction whose interest is to look after your best interests and to protect you.
On occasion a potential adversary will try and convince you that you should follow their advice. As an example, the estate agent may claim to be assisting by claiming that your conveyancer is wrong. Or your mortgage broker may advise you to do something that is contrary to your lawyers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Our lender has recommended a law firm on their panel based in East London but I would rather use a conveyancing lawyer in East London local to me. Are you able to assist?
Far from all East London conveyancing practitioners are approved and listed on all banks conveyancing panel. Use the above find an approved solicitor tool to find a East London conveyancing conveyancer on the on the bank panel.
I used Action Conveyancing several years past for my conveyancing in East London. I now require my file but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in East London of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
About to purchase a new build apartment in East London. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in East London
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
We have selected a East London conveyancing solicitor for our home move (FTB’s) and have noticed in the terms and conditions that they are not overseen by the Financial Conduct Authority. Need I be concerned or is that the norm with solicitor?
We can't see why they should be. Most solicitor don't lend money. You should check that they are governed by the SRA, who dictate strict stipulations in relation to amounts held in their bank.