My partner and I are planning to purchase a house in Woodford Green and are in fact using a Woodford Green conveyancing practice. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Coventry Building Society have this morning contacted us to inform me that they have now hit a problem as our Woodford Green conveyancer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is conventional for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Woodford Green lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
My god-son is about to exchange on a newly built flat in Woodford Green with a mortgage from Bank of Ireland. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Bank of Ireland conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Completed the sale of my flat in Woodford Green last April but the buyer keeps whats apping daily complaining that their conveyancer needs to hear from mine. What should my lawyer have done following completion?
Following your house sale your conveyancer is obliged to deliver the transfer deeds and all additional paperwork to the purchaser's lawyers. Depending on the transaction, your lawyer should also evidence that the mortgage has been discharged to the purchasers solicitors. There is unlikely to be post completion requirements peculiar conveyancing in Woodford Green.
I am looking to buy a flat and need a conveyancing solicitor in Woodford Green who is on the Britannia conveyancing. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Britannia in certain locations such as Woodford Green. We dont recommend any particular firm.
The estate agent has sent us the confirmation of our purchase of a new build flat in Woodford Green. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Woodford Green
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I would be grateful if you could clarify what options are open to me where my Woodford Green conveyancing searches reveals negative entries?
Ordinarily, the majority of issues revealed in Woodford Green conveyancing search results can be addressed in advance of completion or title insurance may be taken. You should remember that regardless of the fact that you intend on buying the premises and might be willing to accept the search results, your building society or bank may not, and ultimately have the final decision.