I am hoping to receive a mortgage with Nat West. My intention is to instruct a Licensed Conveyancer in Limehouse. Does the Nat West Conveyancing panel exclude conveyancers regulated by the CLC?
The Nat West conveyancing panel is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
We are soon to complete on the purchase of a house in Limehouse but as a consequence of damage from some water damage at the property I have managed to agree compensation from the vendor in the sum of £2k by way of a deduction in the price. This was going to be addressed as part of amending the contract however HSBC will not permit this. Should they have been involved?
The conveyancer being on the HSBC conveyancing panel is required to disclose to HSBC of any changes to the purchase price. If you were to refuse your lawyer to notify the price change to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new conveyancer for your conveyancing in Limehouse.
It is 10 years ago since I bought my house in Limehouse. Conveyancing lawyers have just been retained on the sale but I am unable to find the title deeds. Will this cause complications?
You need not be too concerned. First the deeds may be kept by the lender or they may be in the possession of the conveyancers who acted in your purchase. Secondly in most cases the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. Nearly all conveyancing in Limehouse involves registered property but in the rare situation where your property is unregistered it is more tricky but is not insurmountable.
I appreciate that there are debates on Chancel Insurance on online forums. Do I require this when purchasing a residence in Limehouse? or I am told that there is a law dating back centuries that means some house owners residing in a parish church boundary may be liable to pay for repairs to the chancel within the church. Is this relevant for conveyancing in Limehouse?
Unless a previous purchase of the premises completed after 12 October 2013 you can expect solicitors conducting conveyancing in Limehouse to continue to propose a a chancel search and or insurance against a claim.
I'm buying my first flat in Limehouse benefiting from help to buy. The sellers refused to budge the price so I negotiated 6k of extras instead. The property agent suggested that I not reveal to my lawyer about the deal as it may put at risk my mortgage with the bank. Is this normal?.
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.
Should I go with a Limehouse conveyancing practitioner who is local to the property I am purchasing? We have a good friend who can execute the conveyancing but his firm is located 400miles away.
The primary upside of using a local Limehouse conveyancing firm is that you can attend the office to execute documents, hand in your identification documents and pester them if necessary. They will also have local intelligence which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and the majority were impressed that must outweigh using an unknown Limehouse conveyancing solicitor just because they are based in the area.