We are getting closer to an exchange on a house in Hornsey and my mum and dad have transferred the ten percent deposit to my property lawyer. I am now told that as the deposit has not arrived from me my solicitor needs to make a notification to my mortgage company. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
Your conveyancer is legally required to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I own a freehold house in Hornsey but still invoiced for rent, why is this and what is this?
It is rare for properties in Hornsey and has limited impact for conveyancing in Hornsey 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
My lender has recommended solicitors on their panel based in Hornsey but I would rather use a conveyancing lawyer in Hornsey local to me. Can you assist?
Not all Hornsey conveyancing practitioners are approved and listed on all banks conveyancing panel. Please make the most of the above search tool to identify a Hornsey conveyancing firm on the on the bank panel.
Will our conveyancer be asking questions concerning flooding during the conveyancing in Hornsey.
Flooding is a growing risk for lawyers dealing with homes in Hornsey. There are those who acquire a house in Hornsey, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, however there are a various checks that can be initiated by the buyer or on a buyer’s behalf which will give them a better understanding of the risks in Hornsey. The conventional set of property information forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the vendor to determine whether the property has suffered from flooding. If the property has been flooded in past which is not disclosed by the owner, then a purchaser may commence a legal claim for losses stemming from an incorrect answer. A buyer’s lawyers should also commission an enviro search. This should disclose whether there is a recorded flood risk. If so, additional investigations should be conducted.
I have justdiscovered that Action Conveyancing have closed. They conducted my conveyancing in Hornsey for a purchase of a leasehold apartment 12 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The easiest way to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Hornsey conveyancing specialists.
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Hornsey. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Hornsey are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Hornsey in which case you should be looking for a Hornsey conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will report to you on the legal implications.
I own a ground-floor 1960’s flat in Hornsey. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium 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 property 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 was in relation to 3 flats. The unexpired term as at the valuation date was 73.27 years.