It has come to my attention via my estate agent that my Waltham Abbey lawyer is not on the bank Solicitor panel. What can I do to be sure whether this is correct?
You need to contact your Waltham Abbey lawyer directly. You lawyer should inform you of the situation. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
What is the first thing I need to know about purchase conveyancing in Waltham Abbey?
Not many law firms or advisers will tell you this but conveyancing in Waltham Abbey or throughout Essex is an adversarial process. In other words, when it comes to conveyancing there is lots of room for conflict between you and others involved in the home moving process. E.g., the seller, selling agent and on occasion your mortgage company. Choosing a solicitor for your conveyancing in Waltham Abbey should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the legal process whose role it is to protect your best interests and to protect you.
On occasion a potential adversary will attempt to persuade you that you should follow their advice. As an example, the property agent may claim to be assisting by claiming that your conveyancer is dragging his heels. Or your mortgage broker may try to convince you to do take action that is against your solicitors guidance. You should always trust your lawyer above all other parties in the home moving process.
The Waltham Abbey conveyancing firm that just started acting on my house acquisition in Waltham Abbey have suddenly shut down. They were on acting for me because I had to have a firm on the Nationwide conveyancing panel and my previous Waltham Abbey lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What should be my next steps?
If you have an estate agent involved then inform them straight away 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 should appoint new lawyers that are on the Nationwide 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.
Have completed on a a semi-detached house in Waltham Abbey , how long will it take for the Land Registry to register the transfer to my name? My Waltham Abbey conveyancing solicitor has been painfully slow, so I want to be sure that my purchase is registered.
There is nothing unique when it comes to conveyancing in Waltham Abbey registration formalities. As opposed to being determined by geographic area, timescales can adjust depending on who lodges the application, whether it is in order and whether the Land registry have to notify any third persons or bodies. At present roughly three quarters of submission are completed in less than three weeks but occasionally there can be extensive hold-ups. Historically registration occurs after the buyer has moved in to the premises therefore registration formalities is not typically an essential issue yet where there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for the application to be prioritised.
I am buying my first flat in Waltham Abbey with a mortgage from Bank of Scotland. The developers refused to reduce the amount so I negotiated 6k of additionals instead. The estate agent suggested that I not inform my lawyer about this side-deal as it will jeopardize my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Taking into account that I will soon part with 450k on a property in Waltham Abbey I wish to have a conversation with the lawyer concerning thetransaction ahead of appointing the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you liaising with the conveyancer who will be carrying out your conveyancing in Waltham Abbey.There is no ‘factory style conveyancing’ - every client is unique individual, not a file number. The law firms that we put you in touch with believe that the figure you are provided with for residential conveyancing in Waltham Abbey should be the amount on the final invoice that you are charged.