I plan on purchasing a ground floor flat in Plaistow. My property lawyer has never been on on the mortgage company solicitor panel. Can I still use my Plaistow conveyancing solicitor even though they are excluded from the lender list of approved lawyers?
Various options include
- Complete the purchase with your chosen Plaistow conveyancing practitioner but your mortgage company will need to instruct a property lawyer from their conveyancing panel. The net result is additional fees and likely interruption.
- Choose a new property lawyer to conduct the conveyancing, obviously checking they are on the lender conveyancing panel.
- Appeal to your conveyancing practitioner to seek to join the lender panel
What is your number one tip for finding a conveyancing solicitor in Plaistow
It would be unwise to be swayed by the lowest Plaistow conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. 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 go into the conveyancing with your eyes wide open.
It is not clear whether my bank requires a lease extension. I have telephoned my Plaistow bank branch on numerous occasions and was told they are content with the situation and they would lend. My Plaistow conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The conveyancing practitioner has to follow the Council of Mortgage Lenders’ Handbook Part 2 provisions for your lender. 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 remaining.
I have instructed a Plaistow property lawyer having made sure that they are on the Bank of Ireland conveyancing panel. Does my lawyer arrange the survey of the property?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Plaistow postcode. As you are getting a mortgage with Bank of Ireland, you could contact them to see if they have a list of approved surveyors in Plaistow.
It has been five months since my purchase conveyancing in Plaistow concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey done on a property in Plaistow before appointing solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some banks may refuse to grant a mortgage on such a property.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. If you call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Plaistow. Conveyancing will be smoother if you use a solicitor in Plaistow especially if they regularly deal with such properties in Plaistow.
Should I use a Plaistow conveyancing practitioner who is local to the property I am buying? An old friend can perform the legal work but her office is 200kilometers drive away.
The primary upside of using a local Plaistow conveyancing firm is that you can attend the office to sign paperwork, deliver your identification documents and pester them if necessary. Having local Plaistow know how is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and the majority were happy that should surpass using an unknown Plaistow conveyancing solicitor solely due to them being round the corner.
My brother-in-law has suggested I instruct a conveyancing solicitor in Plaistow. I need to find out if they are on the lender's approved list of lawyers. Could you or the lender confirm if they are on the panel?
You should call your conveyancer to check if they are on the bank's approved list. Alternatively please call us and we can make some checks for you. Should the firm not be on the lender panel we we can help find a specialist conveyancing solicitor in Plaistow on the approved list for your lender.