I am getting a mortgage offer from Santander. I hope to enlist the help of a Licensed Conveyancer in Hornchurch. Does the Santander Conveyancing panel allow for conveyancers regulated by the CLC?
The Santander conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My partner and I are nearing an exchange on a property in Hornchurch and my mum and dad have transferred the ten percent deposit to my solicitor. I am now told that as the deposit has not come from me my conveyancing practitioner needs to disclose this to my bank. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
The lawyer is obliged to clarify with the bank to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
At what point does exchange of contracts happen for sale conveyancing in Hornchurch and do I need to be at the lawyers office?
If you are in close proximity to one of the conveyancing solicitors in Hornchurch you are welcome to come in to sign the paperwork. However, the firms we work with provide a national conveyancing service and give as equally comprehensive and professional a job for you when communicating with you by post or email. The signing of the contract is not the important part. A signed contract is just a prerequisite for the solicitor to officially exchange when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Hornchurch)to be in the office at the appropriate time.
We are planning to purchase with Norwich and Peterborough Building Society. I dropped in a couple of high street firms but am unable to find a Hornchurch conveyancing firm on the Norwich and Peterborough Building Society approved list. Could you assist?
Feel free to make use of the find a conveyancing panel solicitor tool on this site. Please choose the lender and type Hornchurch or your preferred area and you will be presented with numerous conveyancers located in Hornchurch or by proximity to you.
I just acquired a flat at auction in Hornchurch. Conveyancing is necessary. What are my next steps?
Now that you are to all intents and purposes signed on the dotted line you now have to hire the services of a conveyancing solicitor quickly as you are facing a fast approaching deadline in which to complete the property. An auction property should have a corresponding legal set of papers. This will likely include most,if not all of the documents that your lawyer will need. Where you are dealing with leasehold property the auction papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You need to pass this on to the lawyer instructed by you at the earliest opportunity. Do make sure that that you have the requisite funding organised to complete the transaction on the set completion date.
I am buying a property in Hornchurch. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Yorkshire BS be concerned?
As you are obtaining a mortgage with Yorkshire BS your lawyer must follow the formal requirements contained in Part two of UK Finance Lenders’ Handbook for Yorkshire BS. The CML Handbook contains minimum provisions for solar panel roof-space leases, and conveyancers are required to report to Yorkshire BS where a lease does not meet these specifications. The conditions relate to the installation of panels on properties nationwide and is not isolated to Hornchurch.
I have a mortgage with UBS for my property in Hornchurch. Conveyancing was finalised a year 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 buy-to-let mortgage or inform UBS?
Your original mortgage agreement with UBS will provide that you need their approval before letting out your property as this is likely to be a breach of UBS’s mortgage conditions. It may be that UBS will allow you to rent 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. It should not be necessary to do this via a UBS conveyancing panel firm.
Will my conveyancer be raising enquiries regarding flooding during the conveyancing in Hornchurch.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Hornchurch. There are those who acquire a house in Hornchurch, completely expectant that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, but there are a various checks that may be initiated by the buyer or by their solicitors which will give them a better appreciation of the risks in Hornchurch. The standard information sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the vendor to discover if the premises has suffered from flooding. If flooding has previously occurred which is not disclosed by the seller, then a buyer may commence a legal claim for losses as a result of such an misleading response. A buyer’s solicitors should also order an environmental search. This will indicate if there is a recorded flood risk. If so, more detailed inquiries will need to be initiated.