Am I correct in assuming that the fact that my conveyancer in South Hackney is not listed on my lender's conveyancing panel that there is a problem with the quality of his conveyancing?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the South Hackney conveyancing practice and enquire why they are no longer on the approved list for your bank.
Our South Hackney lawyer has spotted a discrepancy between the information in the home valuation survey and what is revealed within the title deeds. My solicitor says that he must check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s course or action appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I have been referred to a conveyancing solicitor in South Hackney. I I would like to check whether they are accepted on the Skipton Building Society conveyancing panel. Could you assist?
You should phone the conveyancer and ask them if they can act for the bank. Otherwise you should call Skipton Building Society who may be able to help.
I am helping my mother sell her house in South Hackney. Will the conveyancing solicitor arrange an energy performance certificate or should I organise this?
Following the demise of Home Packs, EPC’s was left as a mandatory element of selling a property. An energy assessment needs to be to hand before the property is put on the market. It is not something that lawyers normally arrange. Where you are instructing a South Hackney conveyancing lawyer they may be willing to arrange energy assessments due to their contacts with reputable South Hackney accredited person
I just bought a house at auction in South Hackney. Conveyancing is required. What are my next steps?
Having legally bound yourself to purchase you must find a conveyancing solicitor as a matter of urgency as you will have a tight a drop dead date to complete the purchase. Every auction property will ordinarily have an associated auction pack. This will include most,if not all of the documents that your solicitor will need. If you have purchased leasehold premises the auction papers may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You must hand this to the lawyer working for you at the earliest opportunity. You also need to ensure that that you have the requisite funding organised to complete on the date specified in the contract.
I can not work out if my bank requires a lease extension. I have telephoned my South Hackney building society branch on various occasions and was reassured it wasn't an issue and they would lend. My South Hackney conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend based on their specific requirements. I have no idea who is right.
As long as the property lawyer is on the bank approved list, they must adhere to the Council of Mortgage Lenders’ Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I'm buying a new build house in South Hackney with a loan from The Mortgage Works. The builders would not reduce the price so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not inform my lawyer about the extras as it could affect my mortgage with the lender. 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 opted to have a survey completed on a house in South Hackney ahead of retaining conveyancers. I have been told that there is a flying freehold element to the property. My surveyor advised that some banks will refuse to grant a loan on this type of property.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. Should you wish to call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in South Hackney. Conveyancing may be slightly more expensive based on your lender's requirements.