We are soon to complete buying a house in Crouch End but as a consequence of damage from a small fire at the property I have managed to agree recompense from the seller in the sum of £3k by way of a adjustment in the price. This was going to be dealt with as part of amending the contract yet Nationwide will not agree to this. Why were they involved?
The lawyer that is on the Nationwide approved list is duty bound to inform Nationwide of any amendments to the purchase price. If you were to refuse your solicitor to disclose the reduction to Nationwide then they would have to discontinue acting for you. In addition, Nationwide and you would have to appoint a new conveyancing practitioner for your conveyancing in Crouch End.
Why do I have to pay up front for conveyancing in Crouch End?
If you are buying a property in Crouch End your solicitor will ask you place them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the purchase price then this will be asked for shortly ahead of contracts are exchanged. Any further balance that is needed should be transferred a couple of days prior to the completion date.
We are due to move property in December. Does my conveyancing solicitor liaise with the removal company on the completion day. Incidentally, can you put forward a removal company in Crouch End. Conveyancing lawyer was found prior to coming across your website.
On the afternoon of completion you will need to collect the house keys from your property agent however this should only happen when the sellers conveyancers advise the agent that they acknowledge receipt of the completion payment and the keys can be collected. After that you should advise the removal company that they can start moving you in. We do not suggest a specific removal company but can assist you in locating a residential property solicitor in Crouch End or a legal practice with expertise in conveyancing in Crouch End.
I'm spending time viewing houses in Crouch End and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a mortgage with TSB.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. Given that you are getting a mortgage with TSB, ask your prospective lawyers if they are on the TSB conveyancing panel otherwise they can't do the mortgage legal work.
I can not work out if my mortgage offer requires a lease extension. I have called into my local Crouch End building society branch on various occasions and was told it wasn't an issue and they would lend. My Crouch End conveyancing solicitor - who is on the bank conveyancing panel- called and was told they would not lend based on their specific requirements. I simply don't know who is right.
Your solicitor has to comply with the CML Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Just bought a terraced house in Crouch End , What is the estimated time for the Land Registry to register my ownership? My Crouch End conveyancing solicitor has been very slow, so I want to be sure the registration is concluded.
There is nothing unique about conveyancing in Crouch End registration formalities. Rather than based on location, timeframes can differ subject to the party submitting the application, whether it is in order and whether the Land registry must send notices to any 3rd parties. As of today in the region of 80% of such applications are fully addressed within two weeks but some can be subject to extensive hold-ups. Registration occurs once the new owner has moved in to the premises thus an expedited registration is not typically top priority yet if there is a degree of urgency associated with the registration then you or your lawyers could communicate with the Registry to express the reasoning for the application to be prioritised.
I am buying my first flat in Crouch End with the aid of help to buy. The developers would not reduce the price so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not disclose to my solicitor about this deal as it could jeopardize 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.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Crouch End I like with open areas and station in the vicinity, however it only has 52 years unexpired on the lease. There is not much else in Crouch End in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan that many years will likely be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.