We are buying a 1 bedroom apartment in Hornchurch with a mortgage. We like our Hornchurch conveyancer, but the mortgage company advise he's not on their "panel". It appears that we have little choice but to select one of the lender panel solicitors or retain our Hornchurch solicitor and pay for one of their panel firms to act for them. This feels very unfair; can we not demand that the mortgage company use our Hornchurch conveyancer ?
Unfortunately,no. 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 Hornchurch conveyancing solicitor to apply to be on the conveyancing panel.
What does my ID and proof of funds have anything to do with my conveyancing in Hornchurch? What am I being asked for?
It is indeed that case that these requests have nothing to do with conveyancing in Hornchurch. Nowadays you will not be able to complete any conveyancing process if you have not handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence and a council tax bill. Please note that if you are supplying your driving licence as proof of ID it must be both the paper section as well as the photo card part, one is not sufficient in the absence of the other.
Verification of the source of funds is necessary in accordance with the Money Laundering Regulations. You should not be offended when you are asked to produce this as your conveyancing solicitor will need to retain this information on record. Your Hornchurch conveyancing practitioner will require evidence of proof of funds prior to accepting any funds from you into their client account and they should also ask further questions concerning the origin of funds.
We are buying a apartment in Hornchurch. I might seem paranoid but how we can trust a lawyer? At some point we have to send funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
The mortgage over my property is with UBS for my property in Hornchurch. Conveyancing was finalised a year ago. In the event that I decide 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 UBS?
UBS must be informed of your intention before letting out your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies 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 UBS directly. You need not do this via a UBS conveyancing panel solicitor.
I had an offer accepted on a property in Hornchurch on 22/1/2025, valuation was booked five days after, all came back fine. Solicitor instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Bank of Ireland and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Bank of Ireland conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Bank of Ireland to deal with your lawyer's application to be on the Bank of Ireland conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Hornchurch differ for new build properties?
Most buyers of new build premises in Hornchurch come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because new home sellers in Hornchurch usually acquire the site, 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 property lawyers 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 Hornchurch or who has acted in the same development.
I opted to have a survey done on a property in Hornchurch prior to instructing conveyancers. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some mortgage companies will refuse to grant a mortgage on this type of premises.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. Should you wish to telephone us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Hornchurch. Conveyancing will be smoother if you use a solicitor in Hornchurch especially if they are accustomed to such properties in Hornchurch.