Am I correct in assuming that the fact that my solicitor in Upton Park is not on my lender's conveyancing panel that there is a problem with the quality of his conveyancing?
That would most likely be a wrong assumption to make. 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 top 5 reasons are as follows: (1) low volume 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. Where you are concerned you should contact the Upton Park conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
We are selling our home in Upton Park. Will my lawyer need to be on the UBS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently at the moment.
Are there restrictive covenants that are commonly identified during conveyancing in Upton Park?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Upton Park. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Upton Park differ for new build properties?
Most buyers of new build premises in Upton Park approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is finished. This is because house builders in Upton Park typically buy the land, 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 conveyancers 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 Upton Park or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Upton Park is where the house is located. What do you suggest?
Flying freeholds in Upton Park 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 Upton Park 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 Upton Park may decide 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 premises.
My husband and I are FTB’s - agreed a price, but the selling agent informed us that the vendor will only proceed if we use the agent's preferred lawyers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a family solicitor who is accustomed to conveyancing in Upton Park
It is improbable the sellers are behind this. If they desire ‘a quick sale', turning down a genuine purchaser is likely to cause more damage than good. Speak to the vendors direct and make the point that (a)you are motivated purchasers (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you will continue to use your preferred Upton Park conveyancing solicitors - rather thanthe ones that will earn the negotiator at the agency a kickback or meet his conveyancing targets pre-set by senior management.