My financial adviser requires my Romford lawyer’ panel reference for the Nationwide conveyancing panel. What is the best way to find this out. I have tried my local Romford branch but they don't know it.
Have you tried contacting your Romford conveyancing practitioner about this?. They should have a central record lender panel numbers.
We are only a couple days away from an exchange on a flat in Romford and my mum and dad have transferred the exchange deposit to my property lawyer. I am now told that as the deposit has been sent from someone other than me my solicitor needs to disclose this to my bank. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancing practitioner is legally required to clarify with lender to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Having invested time researching mumsnet.com for an affordable solicitor in Romford, many advise that I must look for a CQS assured solicitor. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to prudent and efficient conveyancing processes through the scheme protocol It covers numerous companies who perform conveyancing in Romford.
How does conveyancing in Romford differ for newly converted properties?
Most buyers of new build premises in Romford come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Romford tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Romford or who has acted in the same development.
I decided to have a survey completed on a house in Romford in advance of instructing lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some banks may not grant a mortgage on such a premises.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Romford. Conveyancing will be smoother if you use a solicitor in Romford especially if they are acquainted with such properties in Romford.
What is the reason for my conveyancing practitioner requiring numerous items of ID ahead of starting selling or buying a property in Romford?
Romford property lawyers are required by the Law Society, SRA, the Land Registry and current AML legislation to record that the have verified the identity of their clients. It is also sometimes a requirement of your bank if you are obtaining a mortgage. Furthermore they have to complete various forms, particularly those relating to stamp duty land tax and need to have information such as your full names, national insurance number and date of birth.