We're in Pentonville, First timers purchasing with a mortgage (lender is Leeds Building Society , and our solicitor is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
There are plenty of conveyancing solicitors in Pentonville but how do I know who I should use?
Do not opt for the lowest Pentonville conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
My bid for a property was accepted at auction in Pentonville. Conveyancing is necessary. What are my next steps?
Having to in every practical sense signed on the dotted line you now have to instruct a conveyancing solicitor quickly as you are faced with a pending deadline in which to complete the conveyancing. An auction property should have an associated legal set of papers. This will likely include evidence of title and search results. If you have purchased leasehold property the legal papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You should hand this to your appointed conveyancing solicitor ASAP. You also need to ensure that you have funds in place to complete the transaction on the set completion date.
I have paid off my mortgage with Co-operative. I assume I don't need a Pentonville solicitor on the Co-operative panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
How does conveyancing in Pentonville differ for new build properties?
Most buyers of new build premises in Pentonville contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is built. This is because new home sellers in Pentonville usually acquire the land, 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 conveyancing solicitors 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 Pentonville or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £235,500 and found one near me in Pentonville I like with a park and station nearby, the downside is that it only has 52 years on the lease. I can't really find anything else in Pentonville suitable, so just wondered if I would be making a grave error buying a short lease?
Should you require a mortgage that many years will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you may request that they 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 lawyer regarding this matter.
I’m about to sell my ground floor apartment in Pentonville. Conveyancing has not commenced, but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is clear the maintenance contribution as normal because all rents and maintenance payments should be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Pentonville conveyancing firm to act on my behalf?
Most definitely. We are happy to put you in touch with a Pentonville conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Pentonville residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The unexpired lease term was 66.8 years.
A licensed conveyancer handled my conveyancing in Pentonville half a dozen years ago and was holding my title documents but has since been shut down – What can I do to get hold of them?
Title deeds, as such, are no longer appropriate for most properties in Pentonville are registered digitally at Land Registry. If you need to show ownership or are disposing of or re-mortgaging your solicitor should obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned as quickly as possible.