My wife and I are acquiring a new build flat in Hornchurch and my lawyer is informing me that she is duty bound to the lender to disclose incentives from the seller. I am under pressure to sign contracts and my preference is not to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Hornchurch?
There are many registered licenced Conveyancers in Hornchurch and Solicitor practices in Hornchurch offering conveyancing It is important to make clear that both are regulated professionals specialising in the legal aspects of the home buying process. They may both also conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
We had appointed conveyancers located in Hornchurch on the TSB solicitor panel. They are now charging me a separate charge for handling the TSB mortgage. Is this an additional conveyancing fee specified by TSB?
As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your conveyancing practitioner may charge a fee for this. The charge is not dictated by TSB but by your Hornchurch property lawyer. Plenty of firms on the TSB panel will quote an ‘acting for lender’ fee and others do not.
I have a mortgage with TSB for my property in Hornchurch. Conveyancing has been completed some time 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 TSB?
TSB must be informed of your intention prior to letting out your property as this is likely to be a breach of TSB’s mortgage conditions. It may be that TSB 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 TSB directly. You need not do this via a TSB conveyancing panel solicitor.
Will commercial conveyancing searches reveal planned roadworks that may impact a commercial land in Hornchurch?
Many commercial conveyancing solicitors in Hornchurch will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Hornchurch. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hornchurch.
For every commercial conveyancing transaction in Hornchurch it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to Hornchurch commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Hornchurch.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Hornchurch is where the house is located. Can you offer any advice?
Flying freeholds in Hornchurch are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hornchurch you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hornchurch may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My uncle has urged me to use his conveyancers in Hornchurch. Should I find my own property lawyer?
Much as we are happy to recommend a Hornchurch conveyancing lawyer it’s preferable to find a conveyancing solicitor is to get referrals from friends or family who have actually used the conveyancer that you are contemplating using.
Our offer on semi in Hornchurch has been accepted, the owner does nevertheless have a tied purchase. The vendors have submitted an offer on a property, however it’s not yet tied up, and has viewings of other flats booked. I have selected a local conveyancing lawyer in Hornchurch. What should be my next step? At what point do I apply for the mortgage with TSB?
It is normal to have anxieties where there is an associated chain given your reluctance to be too out of pocket prematurely (home loan application is in the region of £1k, then survey, Hornchurch conveyancing search fees, etc). First, you should ensure that your solicitor is on the TSB conveyancing panel. Concerning the subsequent phase this very much depends on the specifics of your case, desire for this property and on the state of the market. During a buoyant market the majority of buyers will apply for a home loan with TSB and arrange for the valuation and only if it was satisfactory would they pay their lawyer to proceed with searches.