Just been in touch with my conveyancing solicitor in Canonbury who conducted the legals two years ago and wanted a conveyancing quote based on an identical type of home move (a leasehold property and a freehold property) of almost identical values with a mortgage from Leeds Building Society. It looks as though am now being quoted twice the amount. Am I right to be tempted to shop around for a cheaper online property lawyer?
The quote is slightly on the high side. If you you were to look around you could decrease the fees marginally by say a hundred pounds. On the other hand, providing that you were satisfied with the conveyancing the firm provided you mightcome to regret choosing an an unknown lawyer. Don't forget to be sure that the solicitor can also act for Leeds Building Society. You can use our search tool to locate a Canonbury conveyancing firm on the Leeds Building Society conveyancing panel, which can often include conveyancing solicitors in Canonbury.
We were just about to sign contracts for a property in Canonbury. We have hit a stumbling block. The loan offer with Norwich and Peterborough Building Society runs out on 11/2/2019 but the vendors are insisting on a completion date of 13/2/2019. Is it possible to extend the mortgage offer?
The person best placed to address this question is your solicitors who will hopefully determine if he or she is should be discussing with the mortgage company, vendor’s conveyancers, property agents or indeed all parties given what has happend in your transaction as of today.
I own a freehold premises in Canonbury but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Canonbury and has limited impact for conveyancing in Canonbury 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 have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Canonbury. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 10/12/2018, the requirements read as follows :
I am looking for a flat up to £245,000 and identified one near me in Canonbury I like with open areas and station in the vicinity, however it's only got 51 years on the lease. I can't really find anything else in Canonbury in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.