Is the fact that my solicitor in Primrose Hill is not on my bank's conveyancing panel that there is a problem with the quality of his work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Primrose Hill conveyancing firm and enquire why they are no longer on the approved list for your lender.
We were just about to sign contracts for a semi detached house in Primrose Hill. We encountered a snag. The loan offer with Alliance & Leicester runs out on 4/11/2026 but the owners are insisting on a completion date of 6/11/2026. Can one extend the mortgage expiry date?
The person best placed to address this question is your lawyer who will hopefully assess whether they corresponding with the mortgage company, vendor’s lawyers, estate agents or indeed all parties taking into account the history of your house move to date.
I am the registered owner of a freehold residence in Primrose Hill yet pay rent, why is this and what is this?
It’s unusual for properties in Primrose Hill and has limited impact for conveyancing in Primrose Hill 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 generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
My bid for a property was accepted at auction in Primrose Hill. Conveyancing is necessary. What is next?
Given that you have now legally committed yourself to purchase you now have to find a conveyancing lawyer as a matter of urgency as you will have a fast approaching deadline in which to complete the conveyancing. An auction property will ordinarily have a bespoke auction set of papers. This should include most,if not all of the paperwork that your lawyer will need. In the case of leasehold premises the legal pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You should pass this on to your appointed conveyancing solicitor ASAP. You also need to ensure that you have funds organised to complete on the date specified in the contract.
I am currently in the process of buying my council flat in Primrose Hill. I have a mortgage offer with Clydesdale. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
My sealed bid on a detached house in Primrose Hill has been agreed to, but there is a chain. The vendors have offered on a property, however it’s not been accepted yet, and have viewings of other apartments in the pipeline. I have selected a high street conveyancing solicitor in Primrose Hill. What should be my next step? When should I get the mortgage application with Kent Reliance started?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is approx £1k, then valuation, Primrose Hill conveyancing search costs, etc). First, you must check that your conveyancer is on the Kent Reliance approved list. Regarding the subsequent steps this very much depends on the uniqueness of your case, motivation for the property and on the state of the market. In a hot market the majority of home buyers would apply for a home loan with Kent Reliance and arrange for the valuation and only if it was satisfactory would they request their conveyancing practitioner to move forward with searches.
I am tempted by the attractive purchase price for a two maisonettes in Primrose Hill which have approximately fifty years unexpired on the lease term. should I be concerned?
There is no doubt about it. A leasehold apartment in Primrose Hill is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. The majority of buyers and mortgage companies, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Primrose Hill conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Primrose Hill. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the price payable.
An example of a Lease Extension decision for a Primrose Hill flat is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case was in relation to 1 flat. The unexpired term as at the valuation date was 64.77 years.
Do I cancel my mortgage payments with Lloyds as soon as a completion date for my home sale in Primrose Hill has been set?
No, you must continue meeting any mortgage sums to Lloyds pending the mortgage being paid off from the proceeds of sale as part of your Primrose Hill conveyancing.