Due to complete my purchase in North Finchley next Thursday. My conveyancer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What risks does the bank expect the insurance to cover?
All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 instructions. These requirements are not unique to conveyancing in North Finchley.
We are buying a property and require a conveyancing solicitor in North Finchley who is on the HSBC conveyancing panel. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for HSBC . We don't recommend any particular firms conducting conveyancing in North Finchley.
A friend informed me that in buying a property in North Finchley there could be a number of restrictions preventing external changes to the property. Is this right?
There are a number of properties in North Finchley which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in North Finchley should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to mortgage companies such as Bank of Ireland, do North Finchley conveyancers face an annual charge to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
My offer was accepted on a house in North Finchley on 7/2/2025, valuation was booked five days after, received a clean bill of health. Solicitor instructed, so all that was missing was my mortgage offer. Having made daily calls to Nottingham and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Nottingham conveyancing panel. Are Nottingham entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.
I'm purchasing my first flat in North Finchley with a mortgage from Aldermore. The builders would not move on the price so I negotiated 6k of additionals instead. The sale representative advised me not to tell my conveyancer about this side-deal as it will jeopardize my loan 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 decided to have a survey done on a property in North Finchley in advance of retaining lawyers. I have been advised that there is a flying freehold element to the house. The surveyor has said that some lenders tend not grant a loan on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in North Finchley. Conveyancing will be smoother if you use a solicitor in North Finchley especially if they are acquainted with such properties in North Finchley.
I need to instruct a conveyancing solicitor for my conveyancing in North Finchley. I happened to land on a site which seems to have the perfect solution If there is a chance to get all this stuff done via phone that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?