My fiance and I are planning to purchase a flat in Seven Sisters and are in fact using a Seven Sisters conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Clydesdale have this afternoon contacted us to inform me that there is now an issue as our Seven Sisters conveyancer is not on their approved list of lawyers. What do we do from here?
Where you are buying a property with the assistance of a mortgage it is conventional for the purchasers' lawyers to also represent the mortgage company. 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 property lawyer should contact your lender 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 don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Seven Sisters lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
How do I investigate if the solicitor carrying out my conveyancing in Seven Sisters is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Godiva Mortgages Ltd thus paying £192.00 in additional legal invoice.
Please do take advantage of the find a lender approved solicitor tool on this site. Please choose the lender and type ‘Seven Sisters’ or your preferred area and you will discover numerous conveyancers based in Seven Sisters or by proximity to you.
I moved into my home on 10 February and the transaction details is yet to be registered. Any reason for this? My conveyancing solicitor in Seven Sisters said it will be dealt with inside ten days. Are properties in Seven Sisters particularly slow to register?
There is nothing unique when it comes to conveyancing in Seven Sisters registration formalities. Rather than based on location, timeframes can adjust subject to the party submitting the application, whether it is in order and if the Land registry need to notify any interested persons or bodies. As of today approximately 80% of such applications are completed within two weeks but occasionally there can be extensive hold-ups. Historically registration occurs once the purchaser has moved in to the property so 'speed' is not usually top priority but where there is a degree of urgency associated with the registration then you or your solicitor should speak with the land registry and explain the circumstances.
Due to the encouragement of my in-laws I had a survey completed on a house in Seven Sisters ahead of instructing conveyancers. I have been told that there is a flying freehold element to the house. The surveyor advised that some banks tend refuse to issue a loan on this type of home.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Seven Sisters. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Seven Sisters to see if the conveyancing costs will increase in light of this.
I need to appoint a conveyancing solicitor for my conveyancing in Seven Sisters. I have land on a site which appears to be the ideal offering If it is possible to get all the legals completed via email that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Completion is due on the disposal of our £250,000 maisonette in Seven Sisters next week. The landlords agents has quoted £300 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Seven Sisters?
For the majority of leasehold sales in Seven Sisters conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Completing conveyancing due diligence questions
Where consent is required before sale in Seven Sisters
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I have given up negotiating a lease extension in Seven Sisters. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Seven Sisters residence is 22 Wakefield Road in January 2012. Following a vesting order Clerkenwell and Shoreditch County Court under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993 on 9th May 2011 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £17,400 This case was in relation to 2 flats. The unexpired lease term was 74.13 years.