After reading moneysavingexpert.com for an online solicitor in Stratford, many comment that I must look for a CQS kitemarked lawyer. Can you explain what CQS is?
Stratford Conveyancing Quality Scheme law firms have achieved accreditation by the law Society The Law Society introduced CQS to establish evidence of quality standards in the home moving process. CQS enables buyers and sellers to identify practices that provide a quality residential conveyancing. Stratford is one of locations in England and Wales in which CQS are located. The conveyancing scheme obliges practices to undergo a strict assessment, compulsory training, self-reporting, random audits and annual reviews in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Legal Ombudsman.
My wife and I are purchasing a house in Stratford. I might seem paranoid but how we can trust a conveyancer? On the day of competition we will need to put our life savings into their account. What is the protection 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.
Forgive me if this question is silly but I am unseasoned as a first time buyer of a garden flat in Stratford. Do I receive the keys to the property on the completion date from my conveyancer? If this is the case, I will appoint a local conveyancing solicitor in Stratford?
On the day of completion you will not be required to attend the conveyancers office in Stratford. Conveyancing lawyers for you will transfer the purchase money to the seller's lawyers, and shortly after the monies have arrived, you will be able to collect the keys from the Estate Agents and start moving into the property. Usually this occurs early afternoon.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Stratford bank branch on numerous occasions and was advised it wasn't an issue and they would lend. My Stratford conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. Who do I believe?
The conveyancing practitioner has to follow the Council of Mortgage Lenders’ Handbook section two specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Stratford?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Stratford. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a flat up to £235,500 and identified one round the corner in Stratford I like with a park and station nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Stratford in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan the remaining unexpired lease term may be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
Our mortgage broker has recommended their conveyancer for our conveyancing in Stratford - Is it not simpler easier to just instruct them?
It is not always the case and you are free to instruct whichever lawyer you decide for your Stratford conveyancing. A conveyancing practitioner recommended by a 3rd party adviser may not necessarily be the best conveyancing practitioner, they may recommend their preferred conveyancing firm who are based far away. In this instance you may not have contact with your lawyer and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.