My wife and I are looking to purchase a house in Romford and have instructed a Romford conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Accord Mortgages Ltd have this evening contacted us to inform me that there is now an issue as our Romford lawyer is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Romford lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
My grandmother passed away 10 months ago and as sole heir and executor I was left the house in Romford. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this possible?
If you intend to refinance then HSBC will insist on your using a conveyancer on the HSBC conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your HSBC conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the HSBC mortgage is registered as a charge at the Land Registry.
The estate agent has sent us the confirmation of our purchase of a new build flat in Romford. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Romford
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please confirm the Lease plans are architect prepared.
I have been on the look out for a leasehold apartment up to £195,000 and found one round the corner in Romford I like with amenity areas and station in the vicinity, however it's only got 49 years on the lease. I can't really find anything else in Romford for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the shortness of the lease may be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
In sourcing the web for the phrase on line conveyancing in Romford it brings up many property lawyersin the vicinity. How do I determine which is the suitable conveyancing solicitor for me?
The preferential method of choosing a suitable conveyancer is via trusted testimonial, so enquire of colleagues and those you trust who have bought a property in Romford or the reputable estate agent or financial adviser. Fees for conveyancing in Romford differ, so it's advisable to secure at least four quotes from different solicitors. Make sure that you know that the charges are guaranteed not to to be inflated.
We are about to purchasing a property in Romford. Conveyancing is not over but we wish to have the amount we are are buying for confidential from sites such as Nestoria. what can I do to make sure this is not revealed?
HM Land Registry as a matter of law obliged to specify price sold information on a register of the title for domestic properties nationwide which includes premises in Romford. The register of ownership is an open document, so HM Land Registry would be breaking the law excluded certain homes such as the property in Romford.
You can ask the Land Registry to withhold the price paid entry but the response will be a No.