We were about to retain a conveyancing solicitor in Islington endorsed on your site but have come across alternative fee calculations via the web seem less pricey – how come?
There are plenty of conveyancers advertising theoretically looks to be cut price. Our recommendation is to think twice about how important this transaction is to you that you are willing to be penny wise pound foolish over the quality of the legal work. Many of them list a bargain fee to tempt you but bury extra costs in the fine print..
2 months have gone by since my purchase conveyancing in Islington took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a ground for flat up to £195,000 and found one round the corner in Islington I like with open areas and railway links in the vicinity, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Islington suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage that many years will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
I was recommended by a couple of local estate agents in Islington to get a quote from a conveyancer on your site. What’s the financial upside for Estate Agents to recommend your lawyers ahead of another?
We refuse to offer any referral fee for directing people our way. We found it would be just too difficult a fee as members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My husband and I are 17 days into a freehold purchase having been referred to conveyancers by the estate agent to execute conveyancing in Islington. I am not happy. Can you help me find new solicitors?
A solicitor would have to be very poor in order to consider replacing them. Has the mortgage been issued? If so you need to inform them of the new contact details and ensure the loan are issued to the new lawyers. Your conveyancer needs to be on the banks panel to avoid escalating costs and complications. That should be your first question of the new solicitors. The search tool should help you find a lender approved lawyer for your conveyancing in Islington
I am a negotiator for a reputable estate agent office in Islington where we have experienced a number of flat sales derailed due to short leases. I have been given contradictory information from local Islington conveyancing solicitors. Can you shed some light as to whether the seller of a flat can initiate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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 buyer.
I have given up seeking a lease extension in Islington. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the price payable.
An example of a Lease Extension decision for a Islington premises is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case related to 1 flat. The unexpired residue of the current lease was 80.5 years.