When can the exchange of contracts occur in purchase conveyancing in Winchmore Hill and am I required to be at the lawyers branch?
If you are round the corner to our conveyancing solicitors in Winchmore Hill you are welcome to attend to sign contracts. However, the firms we work with supply a national conveyancing service and give as equally detailed and professional a job for you when dealing with you by post or email. The executing of the contract is not the point of no return. Signing on the dotted line is necessary for the firm to exchange contracts at the suitable time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Winchmore Hill)to be in the office at the appropriate time.
My solicitor has informed me that absentee landlord insurance is needed on my purchase. What is the level of cover for Winchmore Hill conveyancing?
The right level of absentee landlord indemnity insurance should be dictated by who your lender. It would differ for example between Santander and Coventry Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
We had instructed conveyancers based in Winchmore Hill on the Virgin Money solicitor panel. They are now charging me a further amount for dealing with the Virgin Money mortgage. Is this an additional conveyancing fee specified by Virgin Money?
Provided it is contained in their Terms and Conditions or Quote then yes your solicitor may charge a fee for this. The charge is not dictated by Virgin Money but by your Winchmore Hill conveyancing practitioner. Plenty of firms on the Virgin Money panel will charge ’dealing with mortgage’ fee and others do not.
I recently had an offer accepted on an apartment in Winchmore Hill. My mortgage broker suggested a lawyer. I paid an on account payment of £225. A few days later, the conveyancer called me to say that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Will our lawyer be asking questions regarding flooding during the conveyancing in Winchmore Hill.
The risk of flooding is if increasing concern for lawyers dealing with homes in Winchmore Hill. There are those who buy a property in Winchmore Hill, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, but there are a various checks that may be carried out by the purchaser or by their solicitors which should figure out the risks in Winchmore Hill. The conventional set of completed inquiry forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the vendor to find out if the property has suffered from flooding. If flooding has previously occurred which is not notified by the seller, then a purchaser could issue a compensation claim resulting from an incorrect answer. The purchaser’s solicitors should also carry out an enviro search. This should higlight if there is any known flood risk. If so, more detailed investigations should be made.
Due to the input of my in-laws I had a survey completed on a house in Winchmore Hill ahead of appointing conveyancers. I have been told that there is a flying freehold element to the house. My surveyor has said that some banks may refuse to give a mortgage on a flying freehold house.
It varies from the lender to lender. HSBC has different requirements from Nationwide. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Winchmore Hill. Conveyancing will be smoother if you use a solicitor in Winchmore Hill especially if they are accustomed to such properties in Winchmore Hill.
We expect to complete the disposal of our £375,000 apartment in Winchmore Hill on Thursday in a week. The landlords agents has quoted £300 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Winchmore Hill?
For the majority of leasehold sales in Winchmore Hill conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Completing pre-contract enquiries
Where consent is required before sale in Winchmore Hill
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Notwithstanding our best efforts, we have been unsuccessful in trying to purchase the freehold in Winchmore Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to assess the price payable.
An example of a Lease Extension decision for a Winchmore Hill property 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 as at the valuation date was 81.79 years.
I have just appointed agents to market my garden apartment in Winchmore Hill.Conveyancing lawyers have not yet been instructed but I have recently had a quarterly service charge invoice – Do I pay up?
The sensible thing to do is pay the maintenance contribution as usual as all ground rent and service charges will be allottedon completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice 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