All was ready to move into my new home in Holloway next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?
All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These requirements are not limited to conveyancing in Holloway.
Have just purchased a probate house at auction in Holloway. Conveyancing is needed. What happens now?
Having legally bound yourself to purchase you must retain a conveyancing lawyer as a matter of urgency as you are faced with a fast approaching deadline in which to complete the deal. All auction property will ordinarily have an associated legal set of papers. This will include evidence of title and search results. If you have purchased leasehold property the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to leasehold premises. You must give this to the lawyer working for you at the earliest opportunity. You also need to ensure that that you have the requisite funding organised to complete on the date specified in the contract.
My partner and I have arranged a further advance on our home loan from Leeds Building Society as we wish to carry out alterations to our house in Holloway. Do we need to appoint a nearby Holloway solicitor on the Leeds Building Society conveyancing panel to deal with the paperwork?
Leeds Building Society would not normally appoint firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society panel.
I have paid off my mortgage with Skipton. I assume I don't need a Holloway property lawyer on the Skipton panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Skipton mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Skipton mortgage from the register. Skipton, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Skipton has sent the Land Registry the discharge electronically, and
- Skipton has instructed the Land Registry to do so
I have a renovated Victorian property in Holloway. Conveyancing solicitor represented me and The Mortgage Works. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Holloway and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing solicitor who conducted the purchase.
In what way can the Landlord & Tenant Act 1954 impact my business premises in Holloway and how can you help?
The particular law that you refer to gives security of tenure to business lessees, granting the right to apply to court for a new tenancy and remain in occupation when the lease reaches an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing firms who use the act for protection and assist with commercial conveyancing in Holloway
I am 18 days into a residential purchase having been recommend to solicitors by the local agent to do our conveyancing in Holloway. I am am extremely disappointed with the quality of service. Can you you assist me in finding new solicitors?
A solicitor would have to be really bad in order to consider diss instructing them. Has the mortgage offer been sent? If so you must make them aware of the new contact details and ensure the offer are re-issued. Your conveyancer needs to be on the banks approved list to avoid escalating charges and delays. That should be your starting point. The find a solicitor tool should help you find a bank approved lawyer for your conveyancing in Holloway
Having spent months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Holloway. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We are happy to put you in touch with a Holloway conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Holloway 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 was in relation to 1 flat. The unexpired lease term was 71 years.
In relation to leasehold conveyancing in Holloway what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Holloway. Most leases are individual and drafting errors can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
-
A provision for the recovery of money spent for the benefit of another party. Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Chelsea Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to withdraw.