Am I correct in assuming that the fact that my solicitor in South East London is not on my mortgage company's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
That is most likely a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the South East London conveyancing firm and ask them why they are no longer on the approved list for your bank.
I am in a contract race with another buyer for a property in South East London. What can I do to quicken up the conveyancing process?
First, If the seller is applying time constraints for your conveyancing it is advisable to make sure that your conveyancer is familiar with the area as they will benefit local connections and insight. It is possible that they could have conducted otherhomes in the same street. You would be best advised to use a South East London conveyancing solicitor. In addition, double check that the lawyer is on the lender panel. It is understood that nearly one in five of South East London conveyancing transactions are frustrated or jeopardised after discovering a buyer’s solicitor was not on their banks member panel. This can often result in the conveyancing being held up by an average of 21 days. It is estimated that this issue affects in the region of 100,000 home sales annually. Almost all South East London conveyancing firms can not represent certain mortgage companies so do check at the outset.
What does my ID and proof of funds have anything to do with my conveyancing in South East London? Why is this being asked of me?
In order to comply with Money Laundering Regulations any South East London conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility account evidencing your correct address.
Under Money Laundering Regulations, property lawyers are obliged by law to ascertain not only the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this will result in your lawyer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to inform the relevant authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
I am purchasing a property and need a conveyancing solicitor in South East London who is on the Skipton Building Society conveyancing. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Skipton Building Society in certain locations such as South East London. We dont recommend any particular firm.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in South East London?
Two types of professional can conduct conveyancing in South East London namely CLC regulated conveyancers or solicitors. Both professionals handle conveyancing services that you need to complete the disposal or purchase of property. Both are duty bound to perform South East London conveyancing on similar standards and guidelines so you can be sure that your conveyancing will be properly conducted and that the requisite procedures will be appropriately attended to.
I am buying a property in South East London. An unusual aspect is that the roof has a solar panel. RBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with RBS your lawyer must follow the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for RBS. The CML Handbook includes minimum conditions for solar panel roof-space leases, and property lawyers are required to report to RBS where a lease does not meet these requirements. The requirements relate to the installation of panels on properties nationwide and is not limited to South East London.
I have today made my last payment due on my mortgage with Bank of Ireland. I assume I don't need a South East London conveyancer on the Bank of Ireland panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
Hoping to buy a property located in South East London and I am already nervous. I couldn't find anything specific about South East London. Conveyancing will be needed in due course but do you know about the South East London area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at South East London. In the meantime here are some basic statistics that we found