Is the fact that my solicitor in Leytonstone is not identified on my mortgage company's conveyancing panel that there is a problem with the quality of his conveyancing?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Leytonstone conveyancing firm and enquire why they are no longer on the approved list for your lender.
A friend informed me that in buying a property in Leytonstone there could be various restrictions preventing external changes to the property. Is this right?
We are aware of a number of properties in Leytonstone which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Leytonstone should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am the sole beneficiary of my late grandmother’s estate with all property in now in my sole name, including the my former home in Leytonstone. The Leytonstone property was put into my name in September. I plan to dispose of the house. I understand that there is a CML six month 'rule', meaning my proprietorship could be considered the same way as though I had purchased the property in September. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. Most banks would take a pragmatic view as this requirement principally exists to pick up on the purchase and immediately sell or the wholesaling and assigning of properties.
I can not work out if my bank requires a lease extension. I have telephoned my Leytonstone bank branch on various occasions and was told it wasn't a problem and they will lend. My Leytonstone conveyancing solicitor - who is on the lender conveyancing panel- called to say that they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the property lawyer is on the bank panel, they must comply with the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I require expedited conveyancing in Leytonstone as I have an ultimatum to complete within one month. A mortgage is not required. Can I avoid the conveyancing searches to save fees and time?
If.Given you are not obtaining a home loan you have the choice not to do searches although no conveyancer would recommend that you don't. Drawing on years of experience of conveyancing in Leytonstone the following are examples of issues that can show up and therefore impact the marketability of the property: Enforcement Actions, Overdue Fees, Outstanding Grants, Railway Schemes,...
I'm purchasing my first flat in Leytonstone with the aid of help to buy. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The property agent advised me not disclose to my conveyancer about the side-deal as it may affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Leytonstone is the location of the property. What do you suggest?
Flying freeholds in Leytonstone are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Leytonstone you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Leytonstone 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.
How much experience do your Leytonstone conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Leytonstone conveyancing lawyers help thousands of buyers move home every year and assisted plenty of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Leytonstone conveyancers have worked on recent similar matters.
