My wife and I are looking to purchase a flat in Seven Sisters and are in fact using a Seven Sisters conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Britannia have this afternoon contacted us to inform me that they have now hit a problem as our Seven Sisters solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' solicitors to also act for 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 solicitor 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 and you may continue to use your own Seven Sisters solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
I am due to move home in September. Will my conveyancing solicitor liaise with the removal company on the completion day. As an aside, can you suggest a removal company in Seven Sisters. Conveyancing firm was organised prior to coming across this website.
On the day of completion you will need to collect the house keys from your property agent but this should only take place after the vendors solicitors advise the agent that they have the completion monies and the keys can be collected. Subsequently you should inform the removal company that you are ready to move in. We do not recommend a specific removal company but can assist you in locating a conveyancing in Seven Sisters or a firm that specialises in conveyancing in Seven Sisters.
Last month we had a mortgage agreed in principle with Nottingham. Seven Sisters conveyancing solicitors have been appointed. How long does it take for Nottingham to send the offer to the property lawyer?
Some lenders take longer than others. Have Nottingham conducted the valuation? Have you advised Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am buying a property in Seven Sisters. A rare aspect is that the roof has a solar panel. Santander have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Santander your lawyer must check the conveyancing instructions contained in Part two of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Santander where a lease does not satisfy these requirements. The provisions relate to the installation of panels on properties countrywide and is not isolated to Seven Sisters.
Should my solicitor be raising questions concerning flooding during the conveyancing in Seven Sisters.
Flooding is a growing risk for lawyers dealing with homes in Seven Sisters. Plenty of people will buy a house in Seven Sisters, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, however there are a numerous searches that may be undertaken by the buyer or on a buyer’s behalf which will give them a better understanding of the risks in Seven Sisters. The standard property information forms sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the seller to discover whether the property has suffered from flooding. In the event that the property has been flooded in past which is not notified by the vendor, then a purchaser could commence a legal claim for losses resulting from an misleading response. A purchaser’s lawyers should also conduct an environmental search. This should reveal if there is any known flood risk. If so, further investigations will need to be conducted.
In searching the internet for the phrase cheap conveyancing in Seven Sisters it shows results of many conveyancersin the area. How do I determine which is the suitable solicitor for me?
The best way of finding the right conveyancer is via trusted recommendation, so ask friends and those you trust who have bought a property in Seven Sisters or the local estate agent or financial adviser. Charges for conveyancing in Seven Sisters vary, so it's advisable to secure at least four quotes from varying types of property lawyers. Dont forget to clarify that the charges are guaranteed not to rise.
Can you provide any top tips for leasehold conveyancing in Seven Sisters with the aim of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Seven Sisters can be reduced where you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers. If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Organising a new share certificate is often a time consuming formality and delays many a Seven Sisters conveyancing transaction. Where a reissued share certificate is necessary, do contact the company officers or managing agents (where applicable) for this as soon as possible. A minority of Seven Sisters leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. You believe that you know the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. The majority of freeholders or Management Companies in Seven Sisters charge for providing management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Seven Sisters.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Seven Sisters conveyancing firm to help?
Most certainly. We can put you in touch with a Seven Sisters conveyancing firm who can help.
An example of a Freehold Enfranchisement case 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 number of years remaining on the existing lease(s) was 74.13 years.