AssumingI was to buy a straightforward homein Highgate mortgage fee and dispense with a survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Highgate?
The only saving you would achieve is the Highgate conveyancing searches. A lawyer is obliged to do the vast majority of work - money laundering, correspond with your sellers property lawyer, stamp duty submission, register the title etc. A slight saving might be made by not having to register a mortgage but it won't be significant.
I am the registered owner of a freehold premises in Highgate yet invoiced for rent, why is this and what is this?
It is rare for properties in Highgate and has limited impact for conveyancing in Highgate 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 date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
2 months have gone by since my purchase conveyancing in Highgate concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Highgate differ for new build properties?
Most buyers of new build property in Highgate come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is completed. This is because developers in Highgate usually 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 conveyancing solicitors 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 Highgate or who has acted in the same development.
I decided to have a survey carried out on a property in Highgate ahead of retaining lawyers. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some banks may refuse to grant a loan on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Highgate. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Highgate to see if the conveyancing will be more expensive.
Your search tool is useful but there are many lawyers listed near Highgate being on the mortgage company conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for our lender?
We do not recommend specific Highgate firms as the right Highgate conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Highgate knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..