I plan on buying a ground floor flat in Seven Sisters. My Solicitor is not listed on the lender approved list. Am I still permitted to appoint my Seven Sisters conveyancing solicitor notwithstanding that they are not on the mortgage company list of approved lawyers?
One will need to have a conveyancer to complete the legal work required when you need a loan to purchase your property. The lawyer will carry out all the necessary investigations on the property, ensuring that you’re registered as proprietor and ensure that all the necessary mortgage documentation is in place. You may instruct a Seven Sisters property lawyer of your choice. However, where the lawyer selected is not on the mortgage company approved list supplemental charges will be incurred as separate legal representation will be required by them. Conveyancing panel applications may be submitted, so provided your solicitor has not in the past sought membership they can do so.
Are the Seven Sisters conveyancing solicitors identified as being on the TSB conveyancing panel, together with their details provided by TSB?
Seven Sisters conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
I recently had an offer accepted on an apartment in Seven Sisters. My financial adviser recommended their conveyancers. I paid an on account payment of £225. Not long after, the conveyancing practitioner called me to say that they were not on the Aldermore 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 Aldermore 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.
About to purchase maisonette in Seven Sisters. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Seven Sisters property lawyer is on the Virgin Money conveyancing panel.
Coventry BS have agreed my home loan in principle, my bid on a flat in Seven Sisters has been agreed to, what are the next steps?
The property agent will wish to know who your solicitors are (be sure the conveyancing practitioners are on the lender’s approved list). Call up Coventry BS or your financial adviser and finish off any outstanding paperwork. Coventry BS will instruct a valuer who will get in contact with the estate agent or owners to schedule a time for the valuation to take place. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Coventry BS will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Seven Sisters.
Despite weeks of looking the Title Certificate and documents to our home are lost. The conveyancers who dealt with the conveyancing in Seven Sisters 4 years ago have long since closed. What do I do?
In today’s world there are duplicates made of almost everything, and your conveyancer should know exactly where to look for all the suitable paperwork so you may buy or dispose of your house without any difficulty. Where copies are not available, your solicitor may be able to arrange cover in the form of insurance or indemnities protecting you against possible claims on the premises.
I'm buying my first flat in Seven Sisters benefiting from help to buy. The developers refused to reduce the price so I negotiated 6k of extras instead. The house builders rep told me not disclose to my conveyancer about the deal as it could affect my loan with Barclays . Is this normal?.
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.
I am the leaseholder of a basement flat in Seven Sisters. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
in cases where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to assess the price payable.
An example of a Freehold Enfranchisement decision for a Seven Sisters flat 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 related to 2 flats. The unexpired lease term was 74.13 years.
What makes a Seven Sisters lease unmortgageable?
There is nothing unique about leasehold conveyancing in Seven Sisters. All leases are unique and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
A provision to repair to or maintain elements of the premises Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Bank of Scotland, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.