What happens if my lawyer’s firm is suspended from the Bank of Ireland Solicitor panel ahead of completing my conveyancing in Redbridge?
First, this is very unlikely to happen. 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 for a fee.
After shopping around on the internet I have found a Redbridge property lawyer having checked that they are on the Leeds Building Society conveyancing panel. Does my lawyer arrange the survey of the property?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society 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. You may wish to consider appointing your own Redbridge surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Nottingham have agreed my home loan in principle, my bid on a apartment in Redbridge has been agreed to, what happens next?
The estate agent will need to know who your solicitors are (be sure the property lawyers are on the lender’s panel). Contact Nottingham or your financial adviser and finish off any relevant forms. Nottingham will instruct a valuer who will get in contact with the selling agent or seller to book a slot for the valuation to occur. Once conducted (assuming no problems) it takes approximately ten days to get a mortgage offer. Nottingham will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Redbridge.
My offer on a semi in Redbridge has been accepted, but there is a chain. The owners have put an offer on a property, however it’s not been accepted yet, and have viewings of other apartments booked. I have instructed a bricks and mortar conveyancing solicitor in Redbridge. What should be my next step? At what stage should I apply for the mortgage with Aldermore?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx £1k, then valuation, Redbridge conveyancing search costs, etc). The first course of action is to check that your property lawyer is on the Aldermore conveyancing panel. Concerning the subsequent phase this very much dictated by the specifics of your case, motivation for this property and on the state of the market. In a rising market the majority of purchasers will apply for the mortgage with Aldermore and arrange for the valuation and only if it comes back ok would they ask their conveyancer to move forward with the conveyancing in Redbridge.
What will a local search tell me concerning the house I am buying in Redbridge?
Redbridge conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations for instance Searches UK The local search is essential in every Redbridge conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search will provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
I purchased a renovated Georgian property in Redbridge. Conveyancing solicitor represented me and Bank of Scotland. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold under the matching property. Is it worth asking Bank of Scotland to clarify?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Redbridge and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing solicitor who completed the work.
I am buying my first flat in Redbridge with a mortgage from Barclays Direct. The builders refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent advised me not inform my conveyancer about this extras as it could adversely affect 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.
We're FTB’s - had an offer accepted, but the agent told us that the vendor will only proceed if we use the agent's recommended lawyers as they need an ‘expedited deal’. We would rather use a family solicitor accustomed to conveyancing in Redbridge
It is improbable the owners are driving this. If they require ‘a quick sale', taking such a hostile approach to a genuine buyer is likely to cause more damage than good. Contact the sellers directly and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you are going to instruct your own,trusted Redbridge conveyancing lawyers - not the ones that will provide the estate agent a introducer fee or achieve conveyancing targets pre-set by senior management.