We are planning to purchase a 1 bedroom apartment in Stratford with a mortgage. We have a Stratford conveyancer, but the bank advise she’s not on their "panel". It appears that we have no choice but to select one of the bank panel firms or continue with our Stratford conveyancer and pay for one of their panel ones to represent them. We regard this is inequitable; can we not demand that the mortgage company use our Stratford conveyancer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Stratford conveyancing lawyer to apply to be on the conveyancing panel.
My wife and I are only a couple days away from an exchange on a flat in Stratford and my mum and dad have sent the ten percent deposit to my solicitor. I am now told that as the deposit has not arrived from me my conveyancer needs to make a notification to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I disclosed to the bank about my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
Your conveyancer is legally required to clarify with the bank to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Please help - my lawyer advises that absentee landlord insurance is necessary on my purchase. What is the level of cover for Stratford conveyancing?
The right level of absentee landlord indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and Skipton Building Society. Conveyancing practitioners as opposed to members of the public take out such insurances.
I currently have a mortgage with Barclays for my property in Stratford. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Barclays?
Barclays must be informed of your intention prior to renting your property as this is likely to be a breach of Barclays’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. You need not do this via a Barclays conveyancing panel lawyer.
After much negotiation I have agreed a price on an apartment in Stratford. My financial adviser recommended their conveyancers. I paid an upfront payment of £150. Soon after, the solicitor contacted me to say that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I appreciate that there are debates on Chancel Insurance on online forums. Do I need this when purchasing a property in Stratford? or Apparently there is an ancient law that means some homeowners residing in a parish church boundary will be compelled to contribute towards maintenance to the chancel in proximity to the church. Is this applicable for conveyancing in Stratford?
Unless a prior purchase of the property took place after 12 October 2013 you could assume that conveyancing practitioners delivering conveyancing in Stratford to remain encouraging a chancel search and or insurance against a claim.
I am looking into buying my first house which is in Stratford and I am already nervous. I couldn't find anything specific about Stratford. Conveyancing will be needed in due course but do you know about the Stratford area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Stratford. In the meantime here are some basic statistics that we found
Me and mypartner and I are are seeking to find an affordable conveyancing lawyer in Stratford to assist me in selling my apartment. I am aware of the risk of getting ripped off but with so many Stratford conveyancing solicitors out there...how do I know which one is best to appoint?
To fee estimates for your move from the conveyancing firms that provide services in Stratford please use our quote tool.