We are planning to acquire a property and require a conveyancing solicitor in North Woolwich who is on the HSBC approved panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for HSBC . We don't recommend any particular firms conducting conveyancing in North Woolwich.
Please explain the implications if my solicitor is expelled from the UBS Solicitor panel ahead of completing my conveyancing in North Woolwich?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
There are numerous conveyancing solicitors in North Woolwich but how do I know who I should use?
We would encourage you not to base your choice on the cheapest North Woolwich conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
When it comes to lenders such as HSBC, do North Woolwich conveyancing practitioners have to pay a yearly amount to be on the conveyancing panel?
We are not aware of any bank fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
RBS have agreed my mortgage in principle, my bid on a property in North Woolwich has been accepted, what are the next steps?
The estate agent will need to know who your solicitors are (make sure the solicitors are on the lender’s approved list). Telephone RBS or the financial adviser and finish off any appropriate forms. RBS will appoint a valuer who will get in contact with the estate agent or vendor to schedule a slot for the valuation to take place. Once carried out (assuming no problems) it takes on average a week to receive the mortgage offer. RBS will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in North Woolwich.
I got the keys to my flat on 13 March and my personal details is yet to be on the land registry website. Should I be concerned? My conveyancing solicitor in North Woolwich expressed confidence that it should be concluded in a couple of weeks. Are properties in North Woolwich uniquely lengthy to register?
As far as conveyancing in North Woolwich registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can adjust according to the party submitting the application, whether it is in order and if the Land registry communicate with any other parties. Currently approximately three quarters of such applications are fully dealt with in less than three weeks but occasionally there can be longer delays. Historically registration takes place after the buyer has moved in to the premises thus 'speed' is not typically primary concern yet if there is a degree of urgency associated with the registration then you or your lawyers should contact the land registry and explain the circumstances.
I am purchasing my first flat in North Woolwich with the aid of help to buy. The builders refused to budge the price so I negotiated 6k of fixtures and fittings instead. The sale representative told me not inform my conveyancer about this deal as it could impact my loan with Barnsley Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I have been on the look out for a leasehold apartment up to £305k and found one round the corner in North Woolwich I like with amenity areas and station nearby, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in North Woolwich in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term will be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.