I am obtaining a offer of a home loan from Halifax. I intend to instruct a Licensed Conveyancer in North London. Does the Halifax Solicitor panel allow for Licensed Conveyancers?
The Halifax approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
We have rather brash vendors who has recommended a lock out contract with a down payment of 5k. Are such arrangements promoted for North London conveyancing transactions?
There are two main downsides with entering into any lock out contract (occasionally termed an exclusivity agreement) is that it can distract from moving forward with the conveyancing work, so unless it requires limited or no negotiation then it may turn out to be unhelpful. It is not promoted by North London conveyancing solicitors as a result. A supplemental concern is the extent of the remedies available - an aggrieved purchaser is not likely to secure an injunctive ruling by a court to bar the vendor disposing of the property to a third party, so the only remedy open via the agreement will be the reimbursement of abortive charges and, in rare situations, the additional payment of damages.
I am the registered owner of a freehold premises in North London but still charged rent, why is this and what is this?
It’s unusual for properties in North London and has limited impact for conveyancing in North London 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 creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
I have been referred to a conveyancing solicitor in North London. I need to find out if they are accepted on the Skipton Building Society conveyancing panel. Could you or the lender confirm if they are on the panel?
The first thing you should do is contact the conveyancer and ask them whether they are on the lender panel. Alternatively you can call Skipton Building Society who may be able to assist.
The estate agent has sent us the confirmation of our purchase of a new build apartment in North London. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in North London
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I have been sourcing a conveyancing lawyer in North London for my remortgage. Is it possible to see a firm’s record with the profession’s regulator?
You can read presented Solicitor Regulator Association (SRA) decisions resulting from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. To find details Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, dial +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training requirements.