Our solicitor has identified a a legal deficiency with the lease for the flat we are buying in West Ham. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer has advised that he must check that the mortgage company is happy with this solution. Are we the client or is the lender?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the bank are the client. These conveyancing instructions must be adhered to.
Will lawyers request an advanced payment when it comes to conveyancing in West Ham?
If you are buying a property in West Ham your solicitor will request that you to provide them with monies to cover the search fees. Ordinarily this is called for to cover the fees of the Local Authority Search. If any deposit is as part of the sale price then this should be required shortly in advance of exchange of contracts. The final balance that is needed will be payable shortly before completion.
What is the optimum way to investigate if the solicitor conducting my conveyancing in West Ham is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Bank of Ireland thus paying £192.00 in further conveyancing invoice.
Please do take advantage of the search tool on this web page. Please choose the mortgage company and type ‘West Ham’ or your location and you will see a number of lawyer offices in West Ham or near you.
When it comes to lenders such as Leeds Building Society, do West Ham conveyancers face an annual charge to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
We are getting the release of further monies on our home loan from Nottingham as we intend to conduct a loft conversion to our property in West Ham. Do we need to choose a high street West Ham solicitor on the Nottingham conveyancing panel to deal with the paperwork?
Nottingham would not normally require a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham list.
We were going to get a AIP from Leeds Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any West Ham solicitors on the Leeds Building Society conveyancing panel, or is it better to go independently?
You will need to appoint West Ham solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
Am I right to be wary about brokers that I am dealing with are encouraging me to use a factory type conveyancing firm as opposed to a local West Ham conveyancing firm?
As with many professional services, often input from connections can be very helpful. Yet there are lots of parties with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies may suggest solicitors to instruct. Sometimes these lawyers might be known to one of the organisations as experts in their field, but sometimes there may be a commercial relationship behind the recommendation. You are free to choose your own lawyer. However, bear in mind that the majority of lenders specify a panel list of conveyancers you have to use for the lender related work in your house move.