We are purchasing a 3 bedroom flat in Romford with a mortgage. We like our Romford lawyer, but the lender says he's not on their "panel". It appears that we have no option but to instruct one of the lender panel firms or keep our Romford lawyer as well as pay for one of their panel lawyers to represent them. We consider that this is unjust; is there anything we can do?
Unfortunately,no. Your mortgage offer 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 Romford conveyancing lawyer to apply to be on the conveyancing panel.
My conveyancer has identified a a legal deficiency with the lease for the property we are buying in Romford. The other side have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancing practitioner has advised that he must be satisfied that the bank is content with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
Should lawyers request money on account when it comes to conveyancing in Romford?
If you are buying a property in Romford your solicitor will ask you place them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the total price then this should be needed shortly before contracts are exchanged. Any further balance that is needed will be payable a few days ahead of the completion date.
I just bought a house at auction in Romford. Conveyancing is required. What happens now?
Having to all intents and purposes signed on the dotted line you must hire the services of a conveyancing practitioner as a matter of urgency as you are facing a pending a fixed date to complete the deal. An auction property should have an associated auction set of papers. This will likely include evidence of title and search results. Where you are dealing with leasehold property the auction pack should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to leasehold premises. You should pass this on to the conveyancer working for you as soon as possible. Do make sure that your finances are in order to complete on the on the contractual date .
Can I be sure that the Romford conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Romford seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the lawyer handling your conveyancing.
I've digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Romford solicitor - who is on the Principality conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Romford postcode. As you are getting a mortgage with Principality, you could contact them to see if they have a list of approved surveyors in Romford.
We are a couple of weeks into a freehold purchase having been recommend to solicitors by the estate agent to carry out the conveyancing in Romford. I am am starting to be dissatisfied with the quality of service. Can you you assist me in finding new solicitors?
They would need to be really poor to suggest changing them. Has your mortgage been sent? In the event that it has you need to inform them of the replacement lawyer and have the mortgage documents are re-issued. The solicitor ideally needs to be on the mortgage company approved list to avoid supplemental expenses and delays. So that should be your starting point. The search tool can assist you in finding a bank approved solicitor for your home move in Romford