The Woodford conveyancing firm that just started acting on my house acquisition in Woodford have suddenly shut down. I chose them because I needed a lawyer on the Nationwide conveyancing panel and my previous Woodford lawyer was not. I sent them a cheque for two hundred pounds in advance. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to 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 solicitors may be able to help.
If you had a top tip for choosing a conveyancing solicitor in Woodford what would it be?
It would be unwise to be seduced by the cheapest Woodford conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Completion of my purchase has taken place for my property in Woodford. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Woodford bank branch on various occasions and was advised it wasn't an issue and they will lend. My Woodford conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they would not lend based on their specific requirements. Who do I believe?
Your property lawyer must follow the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
What will a local search inform me concerning the property my wife and I buying in Woodford?
Woodford conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search company for example Searchflow The local search plays a central part in most Woodford conveyancing purchase; that is if you don’t want any nasty surprises after you move into your new home. The search should provide data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
I'm purchasing my first flat in Woodford with a loan from HSBC Bank. The developers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not reveal to my lawyer about the side-deal as it may adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Woodford is where the house is located. Can you offer any opinion?
Flying freeholds in Woodford are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Woodford you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woodford 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 property.
We are 3 weeks into a residential purchase having been directed to solicitors by the local agent to handle our conveyancing in Woodford. I am am very disappointed with the quality of service. Could you you assist me in finding new solicitors?
A solicitor would have to be really poor to suggest diss instructing them. Has the mortgage offer been sent? If so you will need to inform them of the new contact details and get the mortgage documents are issued to the new lawyers. Your solicitor ideally needs to be on the mortgage company panel to avoid escalating fees and delays. So that should be your first question of the new lawyers. The search tool should help you find a lender approved solicitor for your conveyancing in Woodford