I am not well enough to travel far from Seven Sisters. Is there a reason why all Seven Sisters conveyancers are not on all bank panels?
Pre- 2008 most lenders demonstrated an attitude to risk which is different than today. The Financial Services Authority in 2010 instigated a thematic review into mortgage fraud which in summary warned lenders: know the lawyers on your panel. Accordingly, mortgage companies have since requiredmore data from law firms concerning their processes and the individuals employed by them and set certain criteria such as completing a minimum volume of transactions. Hundreds of law practices have been excluded from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms found it impossible satisfy the minimum volume of transactions the mortgage companies set.
At what point does exchange of contracts take place for residential conveyancing in Seven Sisters and do I need to attend the solicitors branch?
Where you are near to our conveyancing solicitors in Seven Sisters you are invited in to sign the paperwork. However, the law practices we work with provide countrywide coverage for conveyancing and provide just as diligent and professional a job for you when dealing with you electronically. The executing of the contract is not the point of no return. Signing on the dotted line simply enables the conveyancer to officially exchange at the appropriate time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Seven Sisters)to be in the office at the appropriate time.
four months have elapsed since my purchase conveyancing in Seven Sisters took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in Seven Sisters benefiting from help to buy. The developers refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not inform my solicitor about this deal as it will put at risk my loan with the bank. 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.
Due to the advice of my in-laws I had a survey completed on a property in Seven Sisters prior to retaining lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some lenders may not issue a loan on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. If you contact us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Seven Sisters. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Seven Sisters to see if the conveyancing will be more expensive.
I am looking for a conveyancing lawyer in Seven Sisters for my house move. Can I review a solicitor's record with the legal regulator?
Members of the public can search for published Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The SRA could recorded telephone calls for training purposes.