I plan on acquiring a maisonette in Haringey. My Conveyancer is not on the lender approved list. Is it possible for me to appoint my Haringey conveyancing solicitor notwithstanding that they are excluded from the mortgage company panel?
You must appoint a conveyancing practitioner to complete the formalities when you require a loan to purchase your property. The solicitor will carry out all the necessary legal checks on the property, make sure that you will be registered as proprietor and ensure that all the required mortgage paperwork is in place. You can appoint a Haringey conveyancer of your choice. However, if the conveyancing practitioner selected is not a member of the bank solicitor panel further fees will be levied as separate legal representation will be required by them. Lender panel applications may be submitted, so where your conveyancer has not previously applied for membership they should take the opportunity to apply.
My fiance and I changing mortgage lender for our flat in Haringey with Skipton. We have a son 19 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this form unique to the Skipton conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Skipton conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Skipton. This is solely used to protect Skipton if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Skipton had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
We see that you have a post code search directory listing solicitors on the Bank of Ireland conveyancing panel. Do companies pay you a commission if I retain them for our own conveyancing in Haringey?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Haringey.
How does conveyancing in Haringey differ for newly converted properties?
Most buyers of new build premises in Haringey contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Haringey tend to acquire the site, 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 Haringey or who has acted in the same development.
I am looking for a ground for flat up to £235,500 and found one round the corner in Haringey I like with open areas and transport links in the vicinity, the downside is that it's only got 61 years on the lease. There is not much else in Haringey in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage that many years will be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Haringey. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Haringey ?
The majority of houses in Haringey are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Haringey so you should seriously consider shopping around for a Haringey conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your lawyer will advise you fully on all the issues.
I am the proprietor of a two-bedroom flat in Haringey. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
Where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the sum to be paid.
An example of a Lease Extension decision for a Haringey premises is 16 Langham Close in June 2009. The Tribunal determined that the premium to be paid by the Applicant to the Respondent for the grant of a new lease was £45,672. This case affected 1 flat. The remaining number of years on the lease was 25.4 years.