Our Romford conveyancer has discovered a discrepancy when comparing the surveyor’s assumptions in the home valuation survey and what is revealed within the conveyancing documents. My lawyer informs me that he is obliged to check that the lender is happy with this discrepancy and is still content to lend. Is my solicitor’s course or action correct?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
The Romford conveyancing solicitors that just started acting on my house acquisition in Romford have without warning shut down. I only went with them because I had to have a lawyer on the Bank of Ireland conveyancing panel and my family Romford lawyer was not. I issued them a cheque for two hundred pounds in advance. What are my options?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
A relative advised me that in purchasing a property in Romford there may be a number of restrictions prohibiting external alterations to the property. Is this right?
There are anumerous of properties in Romford which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Romford should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We are getting the release of further monies on our mortgage from Kent Reliance as we intend to conduct improvements to our home in Romford. Are we obliged to choose a local Romford solicitor on the Kent Reliance conveyancing panel to deal with the legals?
Kent Reliance would not normally instruct a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance conveyancing panel.
I have paid off my mortgage with Coventry BS. I assume I don't need a Romford lawyer on the Coventry BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
I have been told that property searches are a common cause of delay in Romford conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances in the conveyancing process. Local searches are not likely to feature in any slowing down conveyancing in Romford.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one round the corner in Romford I like with amenity areas and railway links nearby, however it's only got 49 years unexpired on the lease. I can't really find anything else in Romford suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the shortness of the lease will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
My brother has urged me to use his conveyancing solicitors in Romford. Should I choose my own conveyancer?
No doubt the ideal way to find a conveyancing lawyer is to seek referrals from friends or family who have actually previously instructed the conveyancer you're are thinking of instructing.