I am in a contract race with another prospective purchaser for a property in New Southgate. What can be done to expedite the buying process?
First, If you are under a tight deadline for your conveyancing it is highly recommended that your solicitor is familiar with the location as they will benefit local relationships and knowledge. It is even conceivable that they may have handled otherhomes in the same street. You would be best advised to use a New Southgate conveyancing solicitor. Second, be sure that the lawyer is on the member panel. It is claimed that nearly one in five of New Southgate conveyancing transactions are delayed or jeopardised after finding out that a purchaser’s lawyer was not on their banks member panel. In many cases this discovery resulted in the home move being delayed by as much as 21 days. It is claimed that this issue impacts approximately one hundred thousand home moves annually. Most New Southgate conveyancing practices can not represent certain mortgage companies so do check at the outset.
We wanted to use a property lawyer in New Southgate for our home move. Our financial adviser informed us that our mortgage lenders Santander won't deal with them. Surely this is unduly restrictive?
Banks ordinarily imposes restrictions either the category or the amount of conveyancing firms on their approved list of lawyers. A common example of such criteria being that a law practice must not be a sole practitioner. In addition to restricting the profile of firm, some have reduced the number of solicitor practices they allow to represent them. Be aware that Santander have no responsibility for the quality of advice provided by any member of Santander Conveyancer Panel. Mortgage fraud was a key driver in the reduction of conveyancing panels a few years ago even though there are mixed opinions regarding the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry indicate that plenty of law firms, including some in or near New Southgate only perform a couple conveyances a year.
My wife and I are purchasing a house in New Southgate. I might seem paranoid but how we can trust a lawyer? On completion day we will need to put money into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My wife and I buying a terrace house in New Southgate. We would like to carry out a loft conversion at the property.Will the conveyancing process include checks to determine if these works are allowed?
Your solicitor will review the registered title as conveyancing in New Southgate will occasionally reveal restrictions in the title deeds which restrict certain changes or require the permission of another owner. Many additions require local authority planning consent and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be wise to check these things with a surveyor ahead of any purchase.
Does a directory service exist listing Bank of Ireland panel conveyancers in New Southgate on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. Very few banks make their panel listings visible online. Where you are seeking to appoint a New Southgate property lawyer on the Bank of Ireland please use our tool.
Are there restrictive covenants that are commonly identified as part of conveyancing in New Southgate?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in New Southgate. 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 have been on the look out for a flat up to £305k and found one round the corner in New Southgate I like with a park and transport links nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in New Southgate for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a mortgage that many years will be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
The property lawyers undertaking our conveyancing in New Southgate has sent papers to review that indicate that the land is unregistered with epitome documents. Why is the property not currently recorded at the Land Registry?
Whilst most properties in New Southgate are now registered with HMLR there are still a few that remain unregistered. Any property in New Southgate that has been remortgaged since the late 1980’s will have been registered at the Land Registry under the compulsory ‘first registration’ scheme. However, if a New Southgate property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Many New Southgate conveyancing solicitors will be able to handle this type of conveyancing but where uncertainty exists the usual guidance nowadays seems to be for the seller to deal with the registration formalities first and subsequently deal with the disposal - this will have a domino effect to result in a drawn-out home move.