Me and my partner are purchasing a 1 bedroom flat in Seven Sisters with a mortgage. We like our Seven Sisters conveyancer, but the bank says he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or retain our Seven Sisters conveyancer and pay for one of their panel firms to act for them. This seems very unfair; are we not able to require that the bank use our Seven Sisters lawyer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Seven Sisters conveyancing lawyer to apply to be on the conveyancing panel.
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…’
I am purchasing my first flat in Seven Sisters benefiting from help to buy. The developers refused to move on the amount so I negotiated £7000 of additionals instead. The property agent suggested that I not disclose to my lawyer about this deal as it would adversely affect my mortgage with Clydesdale. Should I keep quiet?.
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.
I opted to have a survey done on a property in Seven Sisters prior to retaining conveyancers. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some banks tend refuse to grant a mortgage on this type of premises.
It varies from the lender to lender. Santander has different instructions from Nationwide. If you call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Seven Sisters. Conveyancing will be smoother if you use a solicitor in Seven Sisters especially if they are accustomed to such properties in Seven Sisters.
I have been recommended by numerous selling agents in Seven Sisters to find a property lawyer on your site. What’s the financial upside for Estate Agents to offer your lawyers over and above alternative conveyancing organisations?
We refuse to make any commission for directing people to this site. We found it would be just too difficult to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
As co-executor for the will of my grandfather I am selling a residence in Neath but I am based in Seven Sisters. My solicitor (based 260 kilometers from mehas requested that I execute a stat dec prior to completion. Can you recommend a conveyancing practitioner in Seven Sisters to attest and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are Seven Sisters based