Two weeks ago we had a mortgage agreed in principle with Bank of Ireland. Hornsey conveyancing solicitors have been chosen. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
There is no definitive answer here. Have Bank of Ireland conducted the valuation? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
We expect to receive a AIP from TSB this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do TSB recommend any Hornsey solicitors on the TSB conveyancing panel, or is it better to go independently?
You will need to appoint Hornsey solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
I'm spending time viewing houses in Hornsey and I am now considering a potential offer. Is it premature to have a solicitor in place? I intend to finance via a mortgage with HSBC.
It would be sensible to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. Given that you are obtaining a mortgage with HSBC, ask your prospective lawyers if they are on the HSBC conveyancing panel otherwise they can't do the mortgage legal work.
Are there restrictive covenants that are commonly identified as part of conveyancing in Hornsey?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Hornsey. 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 a new build house in Hornsey with the aid of help to buy. The developers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The property agent advised me not reveal to my solicitor about this deal as it would affect my mortgage with the lender. Should I keep quiet?.
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've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Hornsey is the location of the property. Can you offer any advice?
Flying freeholds in Hornsey are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hornsey you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hornsey may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am looking into buying my first house which is in Hornsey and I am already nervous. I couldn't find anything specific about Hornsey. Conveyancing will be needed in due course but do you know about the Hornsey area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Hornsey. In the meantime here are some basic statistics that we found
Is it best to use a Hornsey conveyancing practitioner based in the location that I am hoping to buy? I have an old university friend who can conduct the legal formalities but his firm is located 200miles away.
The benefit of a local Hornsey conveyancing firm is that you can attend the office to execute paperwork, present your identification documents and apply pressure on them where appropriate. Having local Hornsey know how is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and on the whole were happy that should surpass using an unfamiliar Hornsey conveyancing solicitor solely due to them being Hornsey based.