I am buying residence in Stoke Newington. My Solicitor is not on the lender approved list. Can I still continue with my Stoke Newington conveyancing solicitor notwithstanding that they are not on the mortgage company panel?
One will need to have a solicitor to complete the legal work required when you require a loan to purchase your home. The property lawyer will conduct all the appropriate investigations on the property, make sure that you will be properly registered as the owner and ensure that all the necessary mortgage documentation is dealt with. One may select a Stoke Newington conveyancing practitioner of your choosing. Nevertheless, where the solicitor appointed is not on the bank approved list additional charges will be incurred as separate legal representation will be required by them. Lender panel applications can be submitted, so where your solicitor has not previously applied for membership they can do so.
The Stoke Newington conveyancing solicitors that just started acting on my purchase in Stoke Newington have suddenly shut down. I chose them because I had to have a firm on the Leeds Building Society conveyancing panel and my preferred Stoke Newington lawyer was not. I sent them a cheque for £250 in advance. What do I do now?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Leeds Building Society conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
I have justbeen informed that Wolstenholmes have closed. They conducted my conveyancing in Stoke Newington for a purchase of a leasehold flat 18 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?
The easiest method to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Stoke Newington conveyancing specialists.
How does conveyancing in Stoke Newington differ for newly converted properties?
Most buyers of new build residence in Stoke Newington come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is constructed. This is because developers in Stoke Newington usually buy the site, 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 conveyancing solicitors 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 Stoke Newington or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, chain free conveyancing. Stoke Newington is the location of the property. Can you shed any light on this issue?
Flying freeholds in Stoke Newington are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stoke Newington you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stoke Newington may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My husband and I are new to the buying process - agreed a price, but the selling agent advised that the vendor will only move forward if we instruct their preferred lawyers as they need a ‘quick sale’. We would rather use a family conveyancer used to conveyancing in Stoke Newington
We suspect that the seller is not behind this requirement. Should the vendor require ‘a quick sale', turning down a motivated buyer is likely to cause more damage than good. Speak to the owners direct and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you intend to instruct your own,trusted Stoke Newington conveyancing firm - not the ones that will give the estate agent a kickback or hit his conveyancing thresholds set by HQ.