Am I correct in assuming that the fact that my solicitor in Silvertown is not on my bank's solicitor panel that there is a problem with the quality of her conveyancing?
It would not be wise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Silvertown conveyancing firm and ask them why they are no longer on the approved list for your lender.
My wife and I are buying a newly built flat in Silvertown and my lawyer is telling me that she is duty bound to the lender to reveal incentives from the seller. The Estate Agents are hassling me to sign contracts and I would rather not prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
When will exchange of contracts occur in sale conveyancing in Silvertown and do I need to be at the solicitors branch?
Where you are local to one of the conveyancing solicitors in Silvertown you are welcome to attend to sign documents. That being said, the firms we recommend offer countrywide coverage for conveyancing and give as equally diligent and professional a job for you when dealing with you digitally. The signing of the purchase agreement is not the critical part. A signed contract is necessary for the firm to exchange contracts at the appropriate time, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Silvertown)to be in the office available at the end of the phone to exchange contracts.
My fiancee and I are spending time looking at flats in Silvertown and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a mortgage with Kent Reliance.
It would be sensible to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. Given that you are taking out a mortgage with Kent Reliance, ask your prospective lawyers if they are on the Kent Reliance conveyancing panel otherwise they can't do the mortgage legal work.
RBS have agreed my mortgage in principle, my offer on a house in Silvertown has been accepted, what are the next steps?
Your estate agent will wish to be advised as to your lawyer's details (ensure that the property lawyers are on the bank’s approved list). Call up RBS or the broker and finish off any relevant paperwork. RBS will appoint a valuer who will get in touch with the selling agent or vendor to arrange an appointment. Once conducted (assuming no problems) it takes on average ten days for the mortgage offer to be issued. RBS will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Silvertown.
After what seems like an age I have had an offer on a maisonette in Silvertown accepted, but there is a chain. The sellers have offered on a flat, however it’s not yet tied up, and are looking at other apartments booked. I have chosen a high street conveyancing solicitor in Silvertown. What do I do now? At what stage should I apply for the mortgage with Coventry BS?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then survey, Silvertown conveyancing search costs, etc). First, you should check that your conveyancer is on the Coventry BS approved list. Regarding the subsequent steps this very much depends on the specifics of your case, attraction to this property and on the state of the market. During a buoyant market the majority of purchasers would apply for a home loan with Coventry BS and pay for the valuation and only if it was satisfactory would they ask their conveyancer to press on with the conveyancing in Silvertown.
Am I right to be wary that third parties that I am dealing with are recommending a factory type conveyancing firm rather than a High Street Silvertown conveyancing firm?
As with lots of professional services, often input from relatives can be worth their weight in gold. But there are many players in a conveyancing matter; estate agents, financial adviser and mortgage companies may recommend lawyers to use. Sometimes the solicitors might be known to one of the organisations as experts in their field, but occasionally there behind the scenes commercial relationship behind the endorsement. You have the discretion to appoint your own lawyer. You need to be aware that some mortgage providers have an approved list of lawyers you must use for the mortgage related work in your house move.
I am using a search engine for the phrase conveyancing in Silvertown it shows results of numerous conveyancersin the area. With so much choice what is the best way to find the suitable conveyancing solicitor for the sale of my house?
The preferential method of choosing the right conveyancer is via trusted recommendation, so ask friends and relatives who have purchased a property in Silvertown or a reputable estate agent or financial adviser. Charges for conveyancing in Silvertown differ, so it's sensible to request a minimum of four quotes from different law firms. Dont forget to clarify that the fees are fixed.