We're in Hornsey, First time buyers purchasing with a mortgage (lender is Virgin Money , and our lawyer is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Are there restrictive covenants that are commonly identified during conveyancing in Hornsey?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Hornsey. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm converting the mortgage on my current house to a buy to let loan with Bank of Ireland and intend to use the remaining equity as a down payment on a second property. The location we are interested in is Hornsey. Will your conveyancers be able to act for both sets of banks and link together the transactions?
Make use of our search tool on this page to be sure that the conveyancers are approved by both lenders. Assuming that they are your conveyancer will be able to tie up the two deals but you should talk with you conveyancer and communicate your expectations and needs.
Should I use a Hornsey conveyancing solicitor who is local to the property I am hoping to buy? I have an old university friend who can execute the conveyancing but her office is over three hundred kilometers away.
The benefit of a local Hornsey conveyancing firm is that you can drop in to sign documents, hand in your ID and pester them if necessary. Having local Hornsey know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were impressed that must trump using an unknown Hornsey conveyancing lawyer solely due to them being Hornsey based.
I’m about to sell my ground floor flat in Hornsey. Conveyancing lawyers have not yet been instructed, but I have recently had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the invoice as usual given that all ground rent and service invoices should be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am the leaseholder of a second floor flat in Hornsey. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
Most certainly. We are happy to put you in touch with a Hornsey conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Hornsey premises is 7 Aubrey Road in December 2010. By an order of the county court on 15/12/2009 the freehold interest inthe Property known as 7 Aubrey Road London N8 9HH (the Property) and registered at HM Land Registry under title number MX439124 was vested in the applicants. The Tribunal calculated that the total enfranchisement premium, assessed in accordance with Schedule 6 to the Act, was £54,633. This case affected 3 flats. The unexpired term as at the valuation date was 73.27 years.
How easy is it to change a solicitor as I need to find a Hornsey based one who is on the mortgage company conveyancing panel. Is it advisable to appoint a new law firm?
If you haven't yet instructed a solicitor to start work and at this stage simply received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Hornsey that you're considering.