I decided to go with a Hackney based lawyer for my conveyancing in Hackney recently. Upon checking the official terms of business it is apparent thatI am on the hook for fees even where the conveyance does not complete. Should I ditch them and use a web based conveyancing brokerage who offer no-sale-no-fee conveyancing in Hackney?
It is usually ‘give and take’ in that if "No Sale No Fee" is advertised then the fee levels will tend to be be higher to counteract the conveyances that do not go ahead. You should be mindful that these offerings rarely cover expenses such your Hackney conveyancing search expenses.
We wanted to use a conveyancing solicitor in Hackney for our house purchase. Our financial adviser has since advised us that our bank HSBC Bank won't deal with them. Why is this not regarded as unduly restrictive?
Before the recession most banks had an appetite for risk which was higher than today. Almost all Hackney conveyancing firms would have been on most lender panels. The financial services regulator in 2010 conducted a thematic investigation into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms relating to their operations and their employees and set certain criteria such a completing on a minimum number of conveyancing. Many Hackney conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Hackney is one of the hundreds of locations where the lawyers we recommend are members of the panel for HSBC Bank.
I have been advised by my conveyancer that lack of building regulations insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Hackney?
The appropriate level of lack of building regulations indemnity insurance should be dictated by who who your lender is. It would differ for example between Nationwide Building Society and Barnsley Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
Last month we had a mortgage agreed in principle with RBS. Hackney conveyancing lawyers are chosen. How long does it take for RBS to send the offer to the conveyancing practitioner?
There is no definitive answer here. Have RBS conducted the valuation? Have you informed RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Hackney solicitor - who is on the Santander conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Hackney postcode. As you are getting a mortgage with Santander, you could contact them to see if they have a list of approved surveyors in Hackney.
What can a local search inform me about the house my wife and I buying in Hackney?
Hackney conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance PSG The local search is essential in every Hackney conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search should provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
It has been three months since my purchase conveyancing in Hackney took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I need to instruct a conveyancing solicitor for some conveyancing in Hackney. I've discover a web site which looks to be the perfect solution If it is possible to get all the legals done via email that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?