It is is a decade since I bought my home in Highbury. Conveyancing solicitors have just been retained on the sale but I am unable to find the title deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly the deeds may be with your lender or they may be in the possession of the lawyers who acted in your purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors procuring current official copies of the land registers. Almost all conveyancing in Highbury involves registered property but in the unlikely event that your property is unregistered it adds to the complexity but is resolvable.
My aunt advised me that in purchasing a property in Highbury there could be a number of restrictions prohibiting external changes to a property. Is this right?
There are anumerous of properties in Highbury which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Highbury should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to lenders such as Barclays, do Highbury lawyers have to pay an annual charge to be on the list of approved solicitors?
We are unaware of any mortgage company fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
Is it the case that all Highbury conveyancing solicitors on the Barclays conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Barclays approved list of solicitors they would need to be regulated by the SRA. Many lenders do permit licenced conveyancers on their panel and in that case the organisation would be regulated by the Council of Licensed Conveyancers.
Will commercial conveyancing searches reveal impending roadworks that could impact a commercial site in Highbury?
Its becoming the norm that commercial conveyancing solicitors in Highbury will carry out a SiteSolutions Highways report as it reduces the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Highbury. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Highbury.
For each commercial conveyancing transaction in Highbury it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can result in delays to Highbury commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Highbury.
I'm buying my first flat in Highbury with a loan from HSBC Bank. The builders refused to budge the amount so I negotiated £7000 of additionals instead. The sale representative suggested that I not to tell my lawyer about this deal as it will put at risk my mortgage with HSBC Bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in Highbury I like with open areas and transport links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Highbury suitable, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the shortness of the lease will likely be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
Can you offer any advice when it comes to finding a Highbury conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Highbury conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with several firms including non Highbury conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:
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What are the charges for lease extension work? How experienced is the firm with lease extension legislation?
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Highbury conveyancing firm to assist?
Most certainly. We can put you in touch with a Highbury conveyancing firm who can help.
An example of a Lease Extension case for a Highbury premises is Lower Flat 16A Beatty Road in September 2012. The premium payable was £13,577. The terms of the lease has been agreed between the Applicants and the First Respondent and the Tribunal did not seek to disturb that agreement. This case related to 1 flat.