We are purchasing a 1 bedroom apartment in Leyton with a mortgage. We have a Leyton lawyer, however the lender advise he's not on their "panel". It appears that we have no option but to instruct one of the bank panel conveyancing practices or continue with our Leyton solicitor and pay for one of their panel firms to represent them. We consider that this is unjust; are we not able to require that the mortgage company use our Leyton conveyancer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Leyton conveyancing lawyer to apply to be on the conveyancing panel.
Our nephew is in the process of securing a newly built flat in Leyton with a home loan from Principality. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Principality conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Principality conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What does my ID and proof of funds have anything to do with my conveyancing in Leyton? What am I being asked for?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to check the identification documents of the potential client they are dealing with before they can accept their conveyancing retainer. The Client Care letter that you need to sign will no doubt stipulate this. Your lender will also require certain documents to be checked. Where you refuse to supply identification documents, your conveyancer would not be able to act for you.
How does conveyancing in Leyton differ for newly converted properties?
Most buyers of new build or newly converted property in Leyton come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is constructed. This is because house builders in Leyton tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Leyton or who has acted in the same development.
I am looking for a conveyancing solicitor in Leyton for my home move. Can I check a firm’s record with the profession’s regulator?
One may review published Solicitor Regulator Association (SRA) determinations resulting from inquisitions started on or after 1 January 2008. Visit Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The SRA may monitor call for training purposes.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Leyton. Conveyancing is yet to be initiated, but I have just received a half-yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is discharge the service charge as you normally would because all rents and service invoices will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I have had difficulty in seeking a lease extension in Leyton. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Leyton conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Leyton residence is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case related to 2 flats. The remaining number of years on the lease was 72.02 years.