The Finsbury Park conveyancing firm handling our Finsbury Park conveyancing has discovered an inconsistency between the surveyor’s assumptions in the valuation report and what is revealed within the title deeds. My lawyer informs me that he must ensure that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s stance appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Do the Building Society Association intend to launch a online directory to to identify firms on the Norwich and Peterborough Building Society conveyancing panel for example in Finsbury Park?
Lexsure has not been advised of any plans on the part of the BSA to develop such a register.
I am looking for a flat up to £305k and identified one round the corner in Finsbury Park I like with amenity areas and station nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Finsbury Park for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
My husband and I are FTB’s - agreed a price, yet the agent told us that the vendor will only move forward if we use the agent's preferred conveyancers as they need a ‘quick sale’. My instinct tells me that we should use a high street conveyancer used to conveyancing in Finsbury Park
It is highly unlikely the sellers are behind this. If they desire ‘a quick sale', alienating a serious purchaser is likely to cause more damage than good. Speak to the owners direct and make the point that (a)you are motivated buyers (b)you are ready to progress, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)however you will continue to appoint your preferred Finsbury Park conveyancing lawyers - as opposed tothose that will give their estate agent a kickback or achieve conveyancing targets set by senior management.
I have just started marketing my garden apartment in Finsbury Park. Conveyancing lawyers have not yet been instructed, but I have recently had a half-yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as you normally would given that all ground rent and maintenance charges should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am the registered owner of a ground flat in Finsbury Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the price payable.
An example of a Freehold Enfranchisement case for a Finsbury Park premises is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case affected 1 flat. The unexpired lease term was 71 years.
When it comes to my conveyancing in Finsbury Park should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Finsbury Park conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.