We are purchasing a 1 bedroom flat in Edmonton with a mortgage. We like our Edmonton lawyer, but the mortgage company says he's not on their "panel". It seems we have little option but to instruct one of the lender panel firms or retain our Edmonton property lawyer as well as pay for one of their panel lawyers to act for them. This seems very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Edmonton conveyancing solicitor to apply to be on the conveyancing panel.
When can the exchange of contracts occur in residential conveyancing in Edmonton and do I need to be at the solicitors branch?
Where you are in close proximity to our conveyancing solicitors in Edmonton you are invited in to sign contracts. That being said, the lender approved solicitors we work with supply a nationwide conveyancing service and give just as comprehensive and professional a job for you when dealing with you electronically. The signing of the purchase agreement is not when everything is set in stone. Signing on the dotted line is necessary for the solicitor to exchange contracts when the time is right, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Edmonton)to be in the office at the appropriate time.
I have been told that property searches are the primary cause of delay in Edmonton house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Edmonton.
The deeds to our property can not be found. The lawyers who dealt with the conveyancing in Edmonton 4 years ago no longer exist. What are my options?
Assuming you have a registered title the information relating to your proprietorship will be held by the Land Registry under a Title Number. It is easy to execute a search at the Land Registry, find your house and secure up to date copies of the property title for less than a fiver. Where the property is Leasehold then the Land Registry will usually hold a file duplicate of the Registered Lease and again, a copy can be ordered for twenty pounds.
I have been on the look out for a flat up to £195,000 and found one near me in Edmonton I like with amenity areas and railway links nearby, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Edmonton suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan the shortness of the lease may be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
Last March I purchased a leasehold flat in Edmonton. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the proprietor of a second floor flat in Edmonton. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
Most certainly. We can put you in touch with a Edmonton conveyancing firm who can help.
An example of a Vesting Order and Purchase of freehold matter before the tribunal for a Edmonton premises is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case affected 2 flats. The unexpired residue of the current lease was 80.01 years.