It has come to my attention via my financial adviser that my Silvertown property lawyer is not on the bank Conveyancing panel. What can I do to be certain if this is indeed the case?
Your first step should be to contact your Silvertown conveyancer. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they may be able to suggest a Silvertown conveyancing firm that is on the approved list of lawyers for your bank.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Silvertown?
There are many recorded licenced Conveyancers in Silvertown and Solicitor practices in Silvertown offering conveyancing It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. Both can deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
My solicitor has informed me that defective lease insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Silvertown?
The right level of defective lease indemnity insurance should be dictated by who who your lender is. It would differ for example between Nationwide Building Society and Leeds Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
Is it the case that all Silvertown solicitors on the TSB conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the TSB conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Some lenders do list licenced conveyancers on their panel in which case such practice would be regulated by the Council of Licensed Conveyancers.
I purchased my home on 9 November and the transaction details is not yet registered. Any reason for this? My conveyancing solicitor in Silvertown said it will be registered in a couple of weeks. Are transfers in Silvertown particularly slow to register?
There is nothing unique when it comes to conveyancing in Silvertown registration formalities. As opposed to being determined by geographic area, timeframes can differ depending on the party submitting the application, whether there are errors and whether the Land registry have to notify any other persons or bodies. Currently approximately 80% of submission are completed in less than three weeks but occasionally there can be longer delays. Registration takes place once the new owner has moved in to the premises so 'speed' is not typically top priority but if there is a degree of urgency associated with the registration then you or your lawyers could communicate with the Registry to express the reasoning for the application to be prioritised.
Due to the input of my in-laws I had a survey completed on a property in Silvertown in advance of retaining lawyers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some lenders may refuse to issue a loan on this type of home.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Silvertown. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Silvertown to see if the conveyancing costs will increase in light of this.
I am using a search engine for the phrase cheap conveyancing in Silvertown it reveals numerous property lawyerslocally. With so much choice what is the best way to find the right conveyancing solicitor for purchase transaction?
The ideal method of finding the right conveyancer is via personal recommendation, so ask colleagues and family who have bought a property in Silvertown or a local estate agent or mortgage broker. Charges for conveyancing in Silvertown vary, so it's sensible to request at least three quotes from varying types of law firms. Dont forget to clarify that the charges are assured not to increase.
Builders have suggested I use a conveyancer and I've received an estimate from them. It's nearly £400 cheaper than my preferred Silvertown conveyancer. Should I use them?
Housebuilders normally have panels of property lawyers who are quick and who know the seller’s documentation and solicitor. Plenty of developers offer an incentive to choose their approved conveyancing practitioner for this reason, any increased fees can be avoided and a developer will not put forward a conveyancing factory and run the risk of having the conveyancing stall when they demand an exchange inside a month. A counter-argument for not opting for the suggested conveyancer is that they may prove unwilling to fight for your interests at the risk of upsetting the developer. If you worry that this may be the situation you should keep with your high street Silvertown lawyer.