My lawyer has identified a defect with the lease for the apartment we are buying in Tufnell Park. The other side have suggested title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner has advised that he must ensure that the mortgage company is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Why is leasehold purchase conveyancing in Tufnell Park costs more?
Tufnell Park leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Have just purchased a repossessed house at auction in Tufnell Park. Conveyancing is needed. What are my next steps?
Now that you have to in every practical sense signed on the dotted line you must find a conveyancing practitioner quickly as you are facing a tight a fixed date to complete the deal. Every auction property will have an associated legal set of papers. This will likely include evidence of title and search results. In the case of leasehold property the legal papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You must pass this on to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that your finances are in order to complete on the on the contractual date .
A colleague informed me that in purchasing a property in Tufnell Park there could be various restrictions affecting the ability to carry out external changes to a property. Is this right?
We are aware of a number of properties in Tufnell Park which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Tufnell Park should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Completion of my remortgage has taken place for my property in Tufnell Park. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I need some fast conveyancing in Tufnell Park as I am under an ultimatum to exchange contracts within one month. Thankfully I do not require a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
If.Given you are are a cash buyer you are at liberty not to have searches conducted although no solicitor would suggest that you don't. Drawing on our experience of conveyancing in Tufnell Park the following are examples of issues that can appear and adversely affect future saleability: Refused Planning Applications, Overdue Fees, Outstanding Grants, Road Schemes,...
I used Arc property Solicitors a few years ago for my conveyancing in Tufnell Park. I now require my papers however the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Tufnell Park of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one round the corner in Tufnell Park I like with a park and station in the vicinity, however it only has 52 years unexpired on the lease. There is not much else in Tufnell Park in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan that many years will be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.