We are buying a 2 bedroom flat in West Beckton with a mortgage. We would like to retain our West Beckton conveyancer, but the bank says he's not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our West Beckton lawyer and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you 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 West Beckton conveyancing lawyer to apply to be on the conveyancing panel.
I am hoping to move into my new home in West Beckton next Thursday. My conveyancing practitioner now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the lender. What risks does the mortgage company expect the insurance to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These requirements are not limited to conveyancing in West Beckton.
How can we know in advance if a West Beckton conveyancing solicitor on the Aldermore panel is any good?
When it comes to conveyancing in West Beckton obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer conducting your transaction.
We were going to get a OIP from UBS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do UBS recommend any West Beckton solicitors on the UBS conveyancing panel, or is it better to go independently?
You will need to appoint West Beckton solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
After months of negotiation I have agreed a price on an apartment in West Beckton. My mortgage broker pressured me to appoint their conveyancer. I paid an on account payment of £175. A few days later, the lawyer contacted me sheepishly admitting that they were not on the Clydesdale 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 Clydesdale 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.
How does conveyancing in West Beckton differ for new build properties?
Most buyers of new build premises in West Beckton come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in West Beckton typically acquire the real estate, 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 accustomed to new build conveyancing in West Beckton 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 two weeks back in what should have been a quick, no chain conveyancing. West Beckton is where the house is located. Can you offer any opinion?
Flying freeholds in West Beckton 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 West Beckton you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in West Beckton 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.
Our conveyancing in West Beckton is set to complete next Friday, yet the couple I am buying from has asked to vacate on the Saturday PM. Can I agree to such a idea?
It is not possible to complete on a Saturday because the bank systems aren't working.