We were just about to exchange contracts for a ground floor flat in Seven Sisters. We encountered a problem. The loan offer with Bank of Ireland runs out on 18/3/2025 but the sellers are insisting on a completion date of 20/3/2025. Can one extend the loan expiry date?
The best person to deal with your question is your solicitors who will hopefully determine whether they better off negotiating with the mortgage company, seller’s representatives, selling agents or conceivably all three taking into account the history of your conveyancing as of today.
Can you help - my lawyer says that breach of easement insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Seven Sisters?
The right level of breach of easement indemnity insurance should be dictated by who who your lender is. It would differ for example between Accord Mortgages Ltd and The Royal Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such policies.
Are all Seven Sisters Conveyancing Quality Solicitors on the Co-operative conveyancing list of approved solicitors?
Some major banks and building societies now use CQS as the kick off point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
When it comes to lenders such as Principality, do Seven Sisters conveyancing practitioners incur a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
How does conveyancing in Seven Sisters differ for new build properties?
Most buyers of new build or newly converted property in Seven Sisters contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Seven Sisters typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Seven Sisters or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Seven Sisters before appointing solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies tend refuse to give a loan on a flying freehold premises.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. Should you wish to call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Seven Sisters. Conveyancing will be smoother if you use a solicitor in Seven Sisters especially if they are accustomed to such properties in Seven Sisters.
I am looking for a conveyancing lawyer in Seven Sisters for my home move. Is it possible to review a solicitor's record with the profession’s regulator?
Members of the public can search for published Solicitor Regulator Association (SRA) decisions stemming from inquisitions started on or after Jan 2008. Go to Check a solicitor's record. To find details Pre 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training reasons.