Our solicitor has identified a a problem with the lease for the property we are buying in Clapton. The seller’s lawyers have suggested defective title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor says that he must be satisfied that the bank is willing to move forward with this solution. Are we the client or is the lender?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. These conveyancing instructions have to be complied with.
We note that you have a post code search directory listing law firms on the Co-operative conveyancing panel. Do firms pay you a referral fee if I appoint them for our own conveyancing in Clapton?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Clapton.
We had appointed conveyancers with offices in Clapton on the Skipton solicitor approved list. They are now charging me a separate charge for the legal aspects of the Skipton mortgage. Is this an additional conveyancing fee set by Skipton?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your lawyer may levy a fee for this. This fee is not set by Skipton but by your Clapton conveyancing practitioner. Some firms on the Skipton panel will quote an ‘acting for lender’ fee and others do not.
I have a mortgage with Yorkshire BS for my property in Clapton. Conveyancing has been completed some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Yorkshire BS?
Yorkshire BS must be informed of your intention before letting out your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. It may be that Yorkshire BS will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Yorkshire BS directly. It should not be necessary to do this via a Yorkshire BS conveyancing panel solicitor.
After weeks of negotiation I have agreed a price on a house in Clapton. My mortgage broker pressured me to appoint their conveyancer. I paid an advanced payment of £225. A couple of days later, the conveyancing practitioner contacted me embarrassingly acknowledging that they were not on the Coventry BS 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 Coventry BS 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.
Have completed on a a terraced house in Clapton , how long should it take for the Land Registry to register my ownership? My Clapton conveyancing solicitor works at snail pace, so I want to check that my purchase is registered.
There is nothing unique about conveyancing in Clapton registration formalities. Rather than based on location, timeframes can differ according to the party submitting the application, whether it is in order and if the Land registry must send notices to any other parties. Currently approximately three quarters of submission are fully dealt with within two weeks but occasionally there can be protracted delays. Registration takes place once the buyer is living at the premises so an expedited registration is not usually top priority yet if it is urgent that the the registration takes place urgently then you or your solicitor should communicate with the Registry to express the reasoning for an expedited registration.
I'm purchasing a new build house in Clapton benefiting from help to buy. The sellers would not reduce the price so I negotiated 6k of additionals instead. The estate agent told me not to tell my lawyer about this deal as it will affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance 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.
In my capacity as executor for the will of my aunt I am selling a property in Cardiff but I am based in Clapton. My lawyer (approximately 300 kilometers from merequires that I sign a statutory declaration ahead of completion. Could you suggest a conveyancing lawyer in Clapton to attest this legal document for me?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are located in Clapton