Can the conveyancing lawyers that you recommend carry out attended exchange conveyancing in Islington?
There are a few conveyancing experts who can conduct one day exchanges. Please contact us to obtain a costs illustration and details as to availability.
What does my ID and proof of funds have anything to do with my conveyancing in Islington? What am I being asked for?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identity of the potential client they are dealing with before they can accept their conveyancing business. The Terms of Engagement that you need to sign will no doubt confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you are unwilling to provide identification documents, your conveyancer would not be able to act for you.
How does conveyancing in Islington differ for newly converted properties?
Most buyers of new build property in Islington come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Islington tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Islington or who has acted in the same development.
I am looking for a leasehold apartment up to £305k and found one round the corner in Islington I like with open areas and station nearby, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Islington in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage that many years will likely be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
Am I best advised to instruct a Islington conveyancing lawyer who is local to the property I am hoping to buy? I have an old university friend who can execute the legal work but they are based a couple of hundredmiles drive away.
The primary upside of using a high street Islington conveyancing firm is that you can attend the office to sign paperwork, deliver your ID and apply pressure on them where appropriate. Having local Islington know how is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and in the main were content that should trump using an unfamiliar Islington conveyancing solicitor just because they are Islington based.