We're in Stroud Green, First timers buying with a mortgage (lender is UBS , and our solicitor is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner 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.
When it comes to lenders such as Aldermore, do Stroud Green conveyancers have to pay a fee to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
We are getting a further advance on our home loan from RBS as we intend to conduct a loft conversion to our home in Stroud Green. Do we need to appoint a nearby Stroud Green solicitor on the RBS conveyancing panel to handle the paperwork?
RBS do not ordinarily instruct firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS conveyancing panel.
HSBC have agreed my home loan in principle, my offer on a house in Stroud Green has been agreed to, what are the next steps?
Your estate agent will wish to be advised as to your solicitor's details (be sure the conveyancers are on the lender’s approved list). Telephone HSBC or your broker and finalise any relevant documentation. HSBC will appoint a valuer who will get in contact with the estate agent or owners to book an appointment. Once conducted (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. HSBC will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Stroud Green.
I have been told that property searches are a common cause of obstruction in Stroud Green house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Stroud Green.
Are there restrictive covenants that are commonly picked up during conveyancing in Stroud Green?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Stroud Green. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm converting the mortgage on my primary house to a BTL loan with Virgin Money and I will use the ballance of the raised equity towards a second property. The neighborhood we are talking about is Stroud Green. Will your solicitors be able to act for the two mortgage companies and tie in the transactions?
Make use of our comparison tool on this page to check that the conveyancers are on the relevant lender panels. Having checked that they are the conveyancer will be able to connect the two transactions but you should have a chat with you conveyancer and communicate your expectations and needs.
My wife and I purchased a leasehold house in Stroud Green. Conveyancing and Coventry Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Stroud Green who previously acted has now retired. Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Stroud Green conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
My wife and I have hit a brick wall in trying to purchase the freehold in Stroud Green. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to decide the amount due.
An example of a Freehold Enfranchisement case for a Stroud Green flat is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case affected 1 flat. The unexpired term was 71 years.