In the event thatI were to acquire a freehold housein Palmers Green mortgage fee and dispense with a survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Palmers Green?
Any savings you would make would be limited to the Palmers Green conveyancing searches. Your property lawyer is obliged to do the vast majority of work - money laundering, communicating with the vendors conveyancing practitioner, stamp duty return, register the ownership etc. You might save a bit for them not needing to register a mortgage however it won't be a lot.
I am the registered owner of a freehold property in Palmers Green yet invoiced for rent, why is this and what is this?
It is rare for properties in Palmers Green and has limited impact for conveyancing in Palmers Green 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 date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
I just bought a flat at auction in Palmers Green. Conveyancing is necessary. What are my next steps?
Given that you are now legally bound yourself to purchase you must instruct a conveyancing practitioner soon as you now have a tight a fixed date to complete the conveyancing. Every auction property will have a bespoke legal pack. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the auction pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to a leasehold property. You must give this to the conveyancer working for you ASAP. You also need to ensure that you have funds organised to complete on the date specified in the contract.
Can you point me to a directory of Virgin Money panel solicitors in Palmers Green on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the CML or Building Society Association websites. Very few lending institutions make their panel listings available on the web. If you are seeking to appoint a Palmers Green solicitor on the Virgin Money please use our facility.
is it true that all Palmers Green solicitor firms on the Coventry BS conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Coventry BS conveyancing panel they would need to be regulated by the SRA. Many mortgage companies do permit licenced conveyancers on their panel in which case such firms would be overseen by the Council of Licensed Conveyancers.
Just had an offer accepted on a new build flat in Palmers Green. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Palmers Green
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please confirm the Lease plans are surveyor prepared. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Due to the guidance of my in-laws I had a survey completed on a property in Palmers Green before retaining solicitors. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some mortgage companies may refuse to give a loan on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. Should you wish to telephone us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Palmers Green. Conveyancing may be slightly more expensive based on your lender's requirements.
I've recently bought a leasehold flat in Palmers Green. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
After months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Palmers Green. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We can put you in touch with a Palmers Green conveyancing firm who can help.
An example of a Lease Extension case for a Palmers Green premises is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case related to 1 flat. The unexpired term was 81.79 years.