We are expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Is the implication that I have to use their panel lawyer as I would prefer to use a Hackney based conveyancing firm?
You should check but the the likelihood is that appoint one of their panel lawyers where you take up the "fee-free" incentive. Contact the mortgage company and explore if they offer you a monetary alternative. Some banks have previously offered a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor in Hackney.
is it true that all Hackney solicitors on the HSBC conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the HSBC approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many lenders do permit licenced conveyancers on their panel and in such a situation the firms would be regulated by the CLC.
Can I be sure that the Hackney conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Hackney 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 which is cheap as chips. We would always recommend that you speak with the lawyer conducting your transaction.
I recently had an offer accepted on a house in Hackney. My financial adviser pressured me to appoint their solicitor. I paid an upfront payment of £225. A few days later, the solicitor contacted me to say that they were not on the Bank of Ireland conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Bank of Ireland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am intent on selling our home in Hackney and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed an internet conveyancing firm rather than a conveyancing solicitor in Hackney. Having lived in Hackney for many years we know that this is a non issue. Do we get in touch with our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I am buying a new build house in Hackney with a mortgage from Bank of Ireland. The developers refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not reveal to my conveyancer about this side-deal as it could affect my loan with Bank of Ireland. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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 guidance of my in-laws I had a survey completed on a house in Hackney prior to instructing lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some banks will not give a mortgage on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to telephone us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hackney. Conveyancing will be smoother if you use a solicitor in Hackney especially if they are familiar with such properties in Hackney.
We are midway through purchasing a property in Hackney. Conveyancing solicitor has called to say the property is "Leasehold". Will this likely adversely affect the salability of the house?
Hackney conveyancing does not usually involve leasehold houses. The main consideration here is the length of lease and the ground rent. If there are over a hundred years remaining with a nominal rent, it's almost the same as freehold, so it shouldn't impact the marketability significantly.
At the other end of the spectrum, if it's, say, fifty five years it is bound to have a adverse effect on the saleability, and most likely wouldn't be acceptable to the lender. The length of lease and ground rent will be stated in the lease provided to your lawyer.