Am I correct in assuming that the fact that my solicitor in Walthamstow is not listed on my lender's solicitor panel that there is a problem with the standard of the firm’s conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable 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 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. Should you be concerned you should contact the Walthamstow conveyancing firm and enquire why they are no longer on the approved list for your bank.
I am buying a right to buy a flat in Walthamstow. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Walthamstow you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Walthamstow.
We are buying a property in Walthamstow. It might be a silly question but how we can trust a lawyer? On the day of competition we will need to send funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My husband and I are in the process of looking at apartments in Walthamstow and I am about to put in an offer. Is it best to have my solicitor on ‘stand by’? I am planning to take a home loan with UBS.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are obtaining a mortgage with UBS, ask your prospective lawyers if they are on the UBS conveyancing panel otherwise they can't do the mortgage legal work.
I was told four weeks ago that my mortgage has been agreed to by Lloyds. Is it usual for Lloyds to only issue the offer once my solicitor in Walthamstow is approved on their conveyancing panel? Lloyds have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
My colleague suggested that where I am purchasing in Walthamstow I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Walthamstow conveyancing searches. It is not a small report of about 40 pages, listing and detailing important information about Walthamstow around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Walthamstow Education with maps and statistics, Local Amenities and other useful information regarding Walthamstow.
I'm remortgaging my existing property to a BTL loan with Alliance & Leicester and intend to use the remaining equity towards a second house. The location we are talking about is Walthamstow. Will your lawyers be able to act for both sets of mortgage companies and tie in the two deals?
Do use our comparison tool on this page to be sure that the conveyancers are approved by both lenders. On the basis that they are the solicitor will be able to simultaneously deal with the two deals but you should have a chat with you lawyer and make clear your desired outcome and requirements.
My brother mentioned that when selecting a conveyancing firm they need approved by your mortgage company. It happens to be my first home move but I have an offer in principle with HSBC and I already have a high street conveyancing lawyer in Walthamstow in place. Can Santander require an approved conveyancer to be used? If so, where can I find that list for my conveyancing in Walthamstow?
You need to choose a solicitor that is on the Santander panel. The simplest thing to do is call your chosen Walthamstow conveyancing solicitor to check if they are on the Santander panel. If they are not approved you have numerous alternatives available to you here:
- Complete the purchase with your existing Walthamstow conveyancer but Santander will no doubt use a lawyer on their approved list. This will result in additional cost together with probable interruption.
- Get a new solicitor to conduct the conveyancing, obviously checking they are on the Santander conveyancing panel.
- Convince your lawyer to seek to join the mortgage company panel.