I am hoping to receive a mortgage offer from Halifax. My intention is to employ the services of a Licensed Conveyancer in Hornsey. Does the Halifax Conveyancing panel include conveyancers regulated by the CLC?
The Halifax conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I am the only beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Hornsey. Conveyancing formalities meant that the Land Registry date was in July. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', meaning my proprietorship will be considered the same way as if I'd bought the property in July. Is the property unsalable for six months?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. Some lenders would take a practical view as this provision primarily exists to identify subsales or the flipping of properties.
My partner and I are at the point of looking at houses in Hornsey and I am now considering a potential offer. Is it best to have a conveyancing practitioner on ‘stand by’? I intend to finance via a mortgage with Principality.
It would be advisable to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. Given that you are getting a mortgage with Principality, make sure you remember to check that your lawyer is on the Principality conveyancing panel.
Virgin Money have agreed my home loan in principle, my offer on a property in Hornsey has been agreed to, what are the next steps?
Your property agent will need to be advised as to your solicitor's details (make sure the lawyers are on the lender’s panel). Call up Virgin Money or your broker and finish off any appropriate forms. Virgin Money will sellect a valuer who will get in touch with the estate agent or owners to schedule an appointment. Once conducted (assuming no problems) it takes on average a week to receive the mortgage offer. Virgin Money will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Hornsey.
I am looking for a leasehold apartment up to £235,500 and found one round the corner in Hornsey I like with amenity areas and transport links in the vicinity, the downside is that it only has 51 remaining years left on the lease. There is not much else in Hornsey suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
I am using a search engine for the term on line conveyancing in Hornsey it shows results of many solicitorsin the vicinity. How do I determine which is the suitable conveyancing solicitor for me?
The preferential method of finding the right conveyancer is through a trusted referral, so ask friends and relatives who have purchased a property in Hornsey or the local estate agent or financial adviser. Charges for conveyancing in Hornsey differ, so it's a good idea to obtain a minimum of four fee calculations from different companies. Dont forget to clarify that the fees are fixed.
I am a negotiator for a busy estate agent office in Hornsey where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Hornsey conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Hornsey conveyancing firm to act on my behalf?
You certainly can. We are happy to put you in touch with a Hornsey conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Hornsey property is 7 Aubrey Road in December 2010. By an order of the county court on 15/12/2009 the freehold interest inthe Property known as 7 Aubrey Road London N8 9HH (the Property) and registered at HM Land Registry under title number MX439124 was vested in the applicants. The Tribunal calculated that the total enfranchisement premium, assessed in accordance with Schedule 6 to the Act, was £54,633. This case was in relation to 3 flats. The unexpired residue of the current lease was 73.27 years.