AssumingI was to acquire a freehold housein North Harrow for cash and have no survey and no local authority searches how much should I expect to have to pay for conveyancing in North Harrow?
The sole reduction in fees you would make on is the North Harrow conveyancing searches. The property lawyer still got to do everything else - money laundering, communicating with the vendors lawyer, stamp duty submission, register the ownership etc. You might save a bit for them not having to register a charge but it will not be significant.
It is 10 years ago since I purchased my house in North Harrow. Conveyancing lawyers have now been retained on the sale but I am unable to track down the title documents. Is this a major issue?
You need not be too concerned. Firstly there is a possibility that the deeds will be with your lender or they may be in the possession of the solicitor who oversaw the purchase. Secondly in all probability the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring current official copies of the land registers. The vast majority of conveyancing in North Harrow relates to registered property but in the unlikely event that your home is not registered it is more of a problem but is resolvable.
I happen to be the only recipient of my late mum's estate and I have everything in my name alone, including the my former home in North Harrow. The North Harrow property was put into my name in September. I now wish to sell up. I do know about the CML six month 'rule', meaning my proprietorship will be regarded the same way as if I'd bought the property in September. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. Most mortgage companies would take a sensible view as this provision is principally there to capture the purchase and immediately sell or the quick reselling of properties.
Does a directory service exist listing Virgin Money panel solicitors in North Harrow on the Building Society Association’s Website?
No. There is no such facility on the CML or Building Society Association sites. Very few banks make their panel listings viewable online. If you are seeking to appoint a North Harrow conveyancing practitioner on the Virgin Money please use our tool.
I recently had an offer agreed on an apartment in North Harrow. My financial adviser suggested a solicitor. I paid an upfront payment of £225. A couple of days later, the conveyancer called me to say that they were not on the Lloyds conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Lloyds panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
How does conveyancing in North Harrow differ for new build properties?
Most buyers of new build or newly converted property in North Harrow come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is constructed. This is because developers in North Harrow tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in North Harrow or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £305k and found one round the corner in North Harrow I like with amenity areas and railway links in the vicinity, however it's only got 51 years unexpired on the lease. I can't really find anything else in North Harrow for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
I have given up trying to purchase the freehold in North Harrow. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We are happy to put you in touch with a North Harrow conveyancing firm who can help.
An example of a Lease Extension case for a North Harrow flat is flat 93b Welldon Crescent in May 2009. The Tribunals valuation for a 90-year lease extension of this fat was £13,171 This case was in relation to 1 flat. The unexpired residue of the current lease was 75.25 years.
What are the frequently found problems that you encounter in leases for North Harrow properties?
There is nothing unique about leasehold conveyancing in North Harrow. All leases are drafted differently and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Leeds Building Society, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.