Will my conveyancing lawyers need to check that the building insurance when buying a house in Seven Sisters. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 14/1/2021, the requirements read as follows :
My bid for a property was accepted at auction in Seven Sisters. Conveyancing is needed. What happens now?
Given that you are now to all intents and purposes signed on the dotted line you must retain a conveyancing lawyer as a matter of priority as you will have a fast approaching deadline in which to complete the property. Every auction property will ordinarily have an associated legal pack. This will include most,if not all of the paperwork that your conveyancer will need. 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 other conveyancing paperwork pertinent to a leasehold property. You must pass this on to the solicitor instructed by you at the earliest opportunity. You also need to ensure that that you have the requisite funding in place to complete the transaction on the set completion date.
We had appointed conveyancers locally in Seven Sisters on the RBS solicitor panel. They are now charging me a further charge for dealing with the RBS mortgage. Is this an additional conveyancing fee specified by RBS?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your conveyancer may charge a fee for this. This fee is not set by RBS but by your Seven Sisters property lawyer. Some firms on the RBS panel will quote ’dealing with mortgage’ fee and others do not.
After shopping around on the internet I have found a Seven Sisters lawyer having checked that they are on the Nottingham conveyancing panel. Does my lawyer arrange the survey of the property?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham 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 solicitor 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 Seven Sisters postcode. As you are getting a mortgage with Nottingham, you could contact them to see if they have a list of approved surveyors in Seven Sisters.
I require fast conveyancing in Seven Sisters as I am under pressure to sign on the dotted line in less than one month. Thankfully I do not require a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
As you are are a cash buyer you have the choice not to do searches although no lawyer would advise that you don't. Drawing on years of experience of conveyancing in Seven Sisters the following are instances of what can arise and adversely affect the marketability of the property: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Road Schemes,...
Are there restrictive covenants that are commonly picked up as part of conveyancing in Seven Sisters?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Seven Sisters. 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…’
How does conveyancing in Seven Sisters differ for new build properties?
Most buyers of new build residence in Seven Sisters come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is finished. This is because developers in Seven Sisters typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Seven Sisters or who has acted in the same development.
My lawyers in Seven Sisters have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the bank. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.