My wife and I are hoping to purchase a home in Romford and have instructed a Romford conveyancing practice. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Alliance & Leicester have this evening contacted us to advise us that they have now hit a problem as our Romford solicitor is not on their conveyancing panel. Is this a problem?
If you are buying a property with the assistance of a mortgage it is usual for the purchasers' lawyers 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 mortgage company 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 lender’s conveyancing panel and you may continue to use your own Romford solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
What does a local search tell me regarding the property I am buying in Romford?
Romford conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations such as Searches UK The local search plays a central part in most Romford conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search will reveal information on, amongst other things, details on planning applications applicable to the property (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 13 subject sections.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Romford is where the house is located. Can you shed any light on this issue?
Flying freeholds in Romford are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Romford you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Romford may ascertain 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.
My company is planning to lease a unit on a shopping parade. Can you recommend lawyers offering no-sale-no fees for commercial conveyancing in Romford for under £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Romford, including the disposal and acquisition of businesses as well as simply property. Whether you are hoping to purchase or sell a shop, pub, restaurant, office, retail premises or a complete business we can put you in touch with the right solicitor. Regarding the charges these will vary based on the structure and terms of the proposed transaction. Please provide us with your details or email us so that we may provide you with a detailed commercial conveyancing quote.
Partway through the sale of a leasehold flat in Romford. Conveyancing is fine but we are being charged a fortune by the managing agents. To date we have paid £225 for a leasehold management information and then a further £200 plus VAT for responses to queries raised by the purchaser's lawyer.
You will not have any say over the extent of the bill for this information but the typical costs for the information for Romford leasehold premises is £395. For Romford conveyancing deals it is customary for the seller to pay for these costs. The freeholder or their agents are not duty bound to address these questions although many will be content to do so - albeit often at high prices out of proportion to the work involved. Regretfully there is no legislation that mandates fixed fees for administrative tasks. Nor is there any legal time frame by which they are required to supply the information.