Do the conveyancing solicitors listed on your site conduct conveyancing in Stratford by way of an attended exchange?
There are a few conveyancing experts who can conduct one day exchanges. Please contact us to secure a costs illustration and details as to availability.
I had intended to instruct a conveyancing solicitor in Stratford for our house move. Our financial adviser informed us that our bank Bank of Ireland won't deal with them. Why is this not regarded as unfair competition?
A bank can require an approved conveyancer act for it. Borrowers are expected to bear the cost of this. Do use our directory service to find a solicitor to conduct conveyancing in Stratford on the Bank of Ireland member panel.
I can not work out if my bank requires a lease extension. I have called into my local Stratford bank branch on various occasions and was reassured it wasn't an issue and they would lend. My Stratford conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend in accordance with their specific requirements. I simply don't know who is right.
The lawyer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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.
I recently had an offer agreed on an apartment in Stratford. My mortgage broker suggested a conveyancing practitioner. I paid an on account payment of £225. A couple of days later, the property lawyer contacted me to say that they were not on the Virgin Money 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 Virgin Money 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.
At last I have had an offer on an apartment in Stratford agreed to, but there is a chain. The vendors have offered on on an apartment, but it’s not yet tied up, and have viewings of other apartments in the pipeline. I have selected a high street conveyancing solicitor in Stratford. What should be my next step? When do I get the mortgage application with Virgin Money started?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then valuation, Stratford conveyancing search fees, etc). The first thing to do is ensure that your lawyer is on the Virgin Money approved list. As to the subsequent phase this very much dictated by the specifics of your case, desire for the property and on the state of the market. During a rising market the majority of purchasers would apply for a home loan with Virgin Money and arrange for the valuation and only if it was satisfactory would they ask their lawyer to proceed with the conveyancing in Stratford.
Various internet forums that I have come across warn that are a common reason for obstruction in Stratford conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Stratford.
About to purchase a new build apartment in Stratford. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Stratford
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are surveyor prepared. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
My wife and I are purchasing a ground floor flat in Stratford. At the point of instructing our property lawyer, they said that they were on all mainstream mortgage company panels. The mortgage broker contacted us yesterday to say that they are not on the Co-operative approved list. Were it to be true, what should we do? Should we simply pick a new conveyancing practitioner that is on their panel or should we pay for dual representation, with Co-operative selecting their own approved lawyer.
If you are acquiring a property requiring a mortgage it is conventional for the buyer’s solicitors to also act for the mortgage company. In order to act for a bank or building society a property lawyer has to be on that lender's list of approved lawyers. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancer has to fulfill. Some lenders now insist their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your conveyancing practitioner should call Co-operative and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on Co-operative's conveyancing panel and you may continue to use your own Stratford solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.