I can't travel far from Poplar. What is the rationale as to why all Poplar property lawyers aren't automatically on all bank panels?
Mortgage Companies ordinarily restrict either the type or the number of conveyancing firms on their approved list of lawyers. A common example of such criteria being that the firm is required to have two or more partners. As well as restricting the structure of firm, some banks decided to reduce the number of conveyancers they allow to represent them. You should note that mortgage companies have no liability for the standard of conveyancing given by any Poplar property lawyer on their panel. Mortgage fraud was the main trigger for the rationalisation of conveyancing panels from 2008 notwithstanding that there are contrary thoughts concerning the extent of solicitor involvement in some of that fraud. Statistics via the Land Registry exposes that thousands of law practices only carry out one or two conveyances a year. Those advocating conveyancing panel culls question why conveyancing firms should have the right to remain on a conveyancing panel when clearly conveyancing is not their speciality?
I am in a contract race with another prospective purchaser for a property in Poplar. What can be done to expedite the buying process?
Where you are under time constraints for your conveyancing we would recommend that your lawyer is familiar with the location as they will have local relationships and know-how. It is even conceivable that they may have handled previousproperties in the same neighbourhood. Therefore consider using a Poplar conveyancing solicitor. In addition, double check that the conveyancing firm is on the member panel. It is understood that nearly one in five of Poplar conveyancing transactions are delayed or derailed after finding out that a buyer’s conveyancer was not on their banks member panel. This can often result in the home move being held up by almost 21 days. It is estimated that this issue affects approximately one hundred thousand home sales annually. Many Poplar conveyancing firms can not represent certain mortgage companies so do check at the outset.
I am the registered owner of a freehold house in Poplar but still charged rent, why is this and what is this?
It is rare for properties in Poplar and has limited impact for conveyancing in Poplar but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
My partner and I are close to exchanging contracts on the sale of our home in Poplar and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A local conveyancer would know this is not the case. For the life of me I don't know why the buyers used a factory type conveyancing firm rather than a conveyancing solicitor in Poplar. We have lived in Poplar for many years we know that this is a non issue. Is it a good idea to contact our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I am looking into buying my first house which is in Poplar and I am already nervous. I couldn't find anything specific about Poplar. Conveyancing will be needed in due course but do you know about the Poplar area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Poplar. In the meantime here are some basic statistics that we found
My partner has recommend that I instruct his lawyers for conveyancing in Poplar. Do I take his guidance?
Much as we are happy to recommend a Poplar conveyancing lawyer the best way to find a conveyancing lawyer is to have recommendations from friends or family who have experience in using the conveyancer you're contemplating using.