Our High Holborn lawyer has identified a difference between the information in the valuation report and what is revealed within the title deeds. My solicitor informs me that he is obliged to check that the bank is OK with this discrepancy and is content to go ahead. Is my solicitor’s stance right?
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.
What is the first thing I need to know concerning purchase conveyancing in High Holborn?
Not many law firms shout this from the rooftops but conveyancing in High Holborn or throughout North London is often a confrontational experience. In other words, when it comes to conveyancing there exists lots of room for confrontation between you and other parties involved in the legal transfer of property. E.g., the seller, selling agent and sometimes the bank. Choosing a solicitor for your conveyancing in High Holborn is a critical decision as your conveyancer is your adviser, and is the ONLY party in the transaction whose interest is to look after your legal interests and to protect you.
There is a distinct ongoing adversarial element to conveyancing- someone must be blamed for the process being so protracted. We recommend that you must always trust your solicitor above the other players in the home moving process.
We are purchasing a flat in High Holborn. I might seem paranoid but how we can trust a lawyer? On completion day we will need to send funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I currently have a mortgage with UBS for my property in High Holborn. Conveyancing was finalised a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform UBS?
UBS must be informed of your intention before letting out your property as this is likely to be a breach of UBS’s mortgage conditions. It may be that UBS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. You need not do this via a UBS conveyancing panel solicitor.
I was told four weeks ago that my mortgage has been agreed to by Bank of Ireland. Is it usual for Bank of Ireland to only issue the offer once my solicitor in High Holborn is approved on their conveyancing panel? Bank of Ireland have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Bank of Ireland to deal with your lawyer's application to be on the Bank of Ireland conveyancing panel. There's no guarantee that your solicitor will be accepted.
What does commercial conveyancing in High Holborn cover?
Non domestic conveyancing in High Holborn incorporates a wide array of services, given by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I want to rent out my leasehold apartment in High Holborn. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Your lease governs relations between the landlord and you the flat owner; in particular, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in High Holborn do not prevent subletting altogether – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a High Holborn conveyancing firm to assist?
Most definitely. We can put you in touch with a High Holborn conveyancing firm who can help.
An example of a Lease Extension decision for a High Holborn premises is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The unexpired term was 66.8 years.
I am an executor of my recently deceased mum’s Will, with a bungalow in High Holborn which will be sold. The property has never been registered at the Land Registry and I'm advised that some estate agents will insist that it is completed before they will proceed. What's the procedure for this?
In the situation you refer to it seems advisable to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.