We were just about to exchange contracts for a property in Hornsey. We have hit a stumbling block. The mortgage offer with Leeds Building Society runs out on 28/4/2026 but the owners are suggesting a completion date of 30/4/2026. Is it possible to prolong the loan offer?
The person best placed to address this issue is your lawyer who will determine if they should be discussing with the lender, vendor’s solicitors, selling agents or possibly all parties based on the circumstances your transaction as of today.
We see that you have a search directory identifying firms on the Co-operative conveyancing panel. Do firms pay you a commission if I retain them for our conveyancing in Hornsey?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Hornsey.
My bank has suggested solicitors on their panel based in Hornsey but I would rather instruct a conveyancing lawyer in Hornsey local to me. Can you assist?
Far from all Hornsey conveyancing practices are on all lender’s conveyancing panel. Do make use of the above find an approved solicitor tool to choose a Hornsey conveyancing firm on the on the mortgage company panel.
Should my lawyer be raising enquiries about flooding as part of the conveyancing in Hornsey.
The risk of flooding is if increasing concern for lawyers dealing with homes in Hornsey. Some people will purchase a house in Hornsey, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, but there are a number of checks that can be initiated by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Hornsey. The standard information supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the vendor to find out whether the property has ever been flooded. In the event that the property has been flooded in past which is not revealed by the seller, then a buyer could bring a claim for damages stemming from an incorrect answer. A buyer’s conveyancers will also conduct an environmental search. This will disclose whether there is any known flood risk. If so, more detailed inquiries should be carried out.
Just had an offer accepted on a new build apartment in Hornsey. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Hornsey
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I am looking for a leasehold apartment up to £195,000 and found one round the corner in Hornsey I like with open areas and railway links nearby, the downside is that it only has 52 years on the lease. There is not much else in Hornsey for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan that many years will be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.