We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would prefer to use a Holloway based conveyancing firm?
You should check but the chances are that allocate you one of their panel lawyers should you accept the "fee-free" offer. Speak to the mortgage company and check if they make available a monetary alternative. Some banks have previously offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor near Holloway.
My friend recommended that if I am purchasing in Holloway I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Holloway conveyancing searches. It is a large report of about 40 pages, listing and detailing important information about Holloway around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Holloway Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful data about Holloway.
I moved into my house on 5 April and the transaction details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Holloway advises it will be recorded in a couple of weeks. Are properties in Holloway uniquely lengthy to register?
As far as conveyancing in Holloway registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can differ depending on the party submitting the application, whether it is in order and whether the Land registry communicate with any other persons or bodies. As of today in the region of three quarters of such applications are fully addressed in less than three weeks but some can be subject to extensive hold-ups. Historically registration takes place after the new owner has moved in to the premises thus post completion formalities is not typically an essential issue but where there is a degree of urgency associated with the registration then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Holloway differ for new build properties?
Most buyers of new build or newly converted property in Holloway come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Holloway usually buy the real estate, 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 used to new build conveyancing in Holloway or who has acted in the same development.
My husband and I are first time buyers - agreed a price, but the estate agent advised that the seller will only move forward if we instruct their chosen solicitors as they are insisting on a ‘quick sale’. We would rather use a family solicitor with experience of conveyancing in Holloway
It is highly unlikely the sellers are driving this. If they want ‘a quick sale', alienating a genuine buyer is not the way to achieve this. Bypass the agents and go straight to the sellers and make sure they understand (a)you are genuine purchasers (b)you are ready to progress, with finances in place © you do not need to sell (d) you intend to proceed fast (e)however you intend to use your own,trusted Holloway conveyancing lawyers - not the ones that will earn their negotiator at the agency a introducer fee or achieve conveyancing targets demanded by HQ.
I am employed by a busy estate agent office in Holloway where we have witnessed a few leasehold sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Holloway conveyancing firms. Can you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Holloway conveyancing firm to help?
if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to judgment on the amount due.
An example of a Freehold Enfranchisement case for a Holloway property 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 affected 1 flat. The unexpired lease term was 71 years.