The Finsbury Park conveyancing firm handling our Finsbury Park conveyancing has identified a difference between the information in the home valuation survey and what is in the conveyancing documents. My lawyer says that he is obliged to check that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s approach correct?
Your lawyer must comply with the UK Finance Lenders’ Handbook requirements 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.
I purchased a freehold residence in Finsbury Park but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Finsbury Park and has limited impact for conveyancing in Finsbury Park but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
My bid for a property was accepted at auction in Finsbury Park. Conveyancing is required. What are my next steps?
Given that you are now legally committed yourself to purchase you will need to hire the services of a conveyancing solicitor as a matter of urgency as you will have a fast approaching a drop dead date to complete the property. Every auction property should have an associated legal set of papers. This should include evidence of title and search results. If you have purchased leasehold premises the legal papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to a leasehold property. You must hand this to the solicitor instructed by you as soon as possible. Do make sure that you have funds organised to complete the transaction on the set completion date.
We are aiming to move property in October. Does my conveyancing solicitor communicate with the removal company on the completion day. Incidentally, can you put forward a removal company in Finsbury Park. Conveyancing lawyer was chosen before I stumbled across your site.
On the day of completion you can collect the house keys from the estate agent however this should only happen once the vendors solicitors advise the agent that they acknowledge receipt of the completion payment and the keys can be passed over. After that you should inform the removal company that they can start moving you in. As a matter of policy we do not recommend a particular removal company but can help you choose a conveyancing in Finsbury Park or a firm with expertise in conveyancing in Finsbury Park.
The formalities of my purchase has taken place for my property in Finsbury Park. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
How does conveyancing in Finsbury Park differ for newly converted properties?
Most buyers of new build property in Finsbury Park approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Finsbury Park typically acquire 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 conveyancers 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 Finsbury Park or who has acted in the same development.
I am a negotiator for a busy estate agent office in Finsbury Park where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Finsbury Park conveyancing firms. Could you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a ground-floor 1950’s flat in Finsbury Park. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
in cases where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to determine the price.
An example of a Freehold Enfranchisement case for a Finsbury Park flat 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 term was 71 years.
A mortgage agreement from a lender for the remortgage of my 2 bedroom flat is to be issued within the next few days. Can you suggest a cheap remortgage conveyancing practitioner in Finsbury Park ?
This site is not designed to help in pursuit of the lowest fares for conveyancing solicitors in Finsbury Park. Our goal is to offer value for money conveyancing but we do not aim to advertise as being the cheapest. Avoid the trap of appointing companies offering £99 conveyancing in Finsbury Park.At best, in opting for cheap conveyancing, you will get what you pay for and at worst you will end up paying a lot in additional fee and still not receive the service you were looking for.