My fiance and I are looking to acquire a flat in East Finchley and have instructed a East Finchley conveyancing practice. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Nottingham Building Society have this afternoon contacted us to advise us that they have now hit a problem as our East Finchley solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also represent the purchaser's lender. 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 Accreditation Scheme. Your solicitor should contact your bank 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own East Finchley solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
We were just about to sign contracts for a freehold house in East Finchley. We have hit a stumbling block. The mortgage offer with Alliance & Leicester expires on 9/9/2026 but the owners are putting forward a completion date of 11/9/2026. Is it possible to prolong the loan expiry date?
The person best placed to address this issue is your conveyancer who is in a position to determine whether they better off negotiating with the mortgage company, vendor’s conveyancers, property agents or conceivably all parties given what has gone on in your house move to date.
We are planning to acquire a house and require a conveyancing solicitor in East Finchley who is on the Clydesdale solicitor panel. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Clydesdale . We don't recommend any particular firms conducting conveyancing in East Finchley.
I moved into my flat on 11 September and my personal details is not yet registered. Any reason for this? My conveyancing solicitor in East Finchley advises it will be dealt with in a couple of weeks. Are transfers in East Finchley particularly slow to register?
There is nothing unique when it comes to conveyancing in East Finchley registration formalities. As opposed to being determined by geographic area, timeframes can adjust according to who lodges the application, whether it is in order and if the Land registry have to notify any interested parties. At present approximately 80% of such applications are fully dealt with in less than three weeks but some can be subject to protracted hold-ups. Historically registration is effected once the buyer is living at the property so an expedited registration is not always an essential issue yet where it is urgent that the the registration takes place urgently then you or your conveyancer should communicate with the Registry to express the reasoning for the application to be prioritised.
I am purchasing a new build house in East Finchley with the aid of help to buy. The developers would not reduce the price so I negotiated £7000 of extras instead. The sale representative suggested that I not reveal to my conveyancer about this side-deal as it would impact my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the encouragement of my in-laws I had a survey completed on a house in East Finchley ahead of appointing conveyancers. I have been told that there is a flying freehold aspect to the property. Our surveyor has said that some banks will not grant a loan on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. If you call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in East Finchley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in East Finchley to see if the conveyancing will be more expensive.