I'm in the process of changing my current homeowner home loan to a Buy to Let The Royal Bank of Scotland mortgage. I have been informed by my broker that I must appoint a conveyancer for this. I spoke to the same North London conveyancing solicitor who acted on my behalf when I previously purchased the house. The costs estimate issued of £470 has shocked me as its a refinance than a sale or purchase.
The estimate does seem a tad on the high side. Where you are willing to invest time comparing prices you may be able to decrease the fees slightly by as much as £125. On the other hand, providing that you were content with the service the firm offered you couldcome to rue opting for an an unknown solicitor. Remember to ensure that the conveyancer can act for The Royal Bank of Scotland. Do employ our search tool to find a North London conveyancing firm on the The Royal Bank of Scotland approved list of lawyers, which can often include conveyancing solicitors in North London.
Me and my partner are soon to exchange buying a property in North London but as a result of damage from some water damage at the property I have managed to agree compensation from the owner of £3k taking the form of a reduction in the price. I had intended this to be addressed as part of a side agreement however Principality will not permit this. Should they have been informed?
The solicitor that is on the Principality approved list is obliged to inform Principality of any changes to the sale price. If you were to refuse your lawyer to notify the reduction to Principality then they would have to discontinue acting for you. In addition, Principality and you would have to appoint a new property lawyer for your conveyancing in North London.
Are there restrictive covenants that are commonly identified as part of conveyancing in North London?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in North London. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I decided to have a survey completed on a property in North London in advance of instructing solicitors. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks will refuse to grant a mortgage on a flying freehold house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in North London. Conveyancing will be smoother if you use a solicitor in North London especially if they are familiar with such properties in North London.
There are only 62 years remaining on my flat in North London. I need to get lease extension but my freeholder is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you have used your best endeavours to track down the freeholder. For most situations a specialist would be helpful to conduct investigations and to produce an expert document which can be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court covering North London.
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a North London conveyancing firm to act on my behalf?
You certainly can. We are happy to put you in touch with a North London conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a North London flat is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case affected 1 flat. The unexpired term as at the valuation date was 73.26 years.