I am the sole beneficiary of my late father’s will and I have everything in my name now, including the house in Hornsey. The Hornsey property was put into my name in March. I plan to dispose of the property. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship could be regarded the same way as though I had purchased the house in March. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How practical a view banks take of it, depend on the bank as this clause is primarily there to capture subsales or the flipping of property.
I have paid off my mortgage with Skipton. I assume I don't need a Hornsey conveyancing practitioner on the Skipton panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Skipton mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Skipton mortgage from the register. Skipton, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Skipton has sent the Land Registry the discharge electronically, and
- Skipton has instructed the Land Registry to do so
At last I have had an offer on a maisonette in Hornsey accepted, but there is a chain. The vendors have put an offer on a flat, however it’s not yet tied up, and have viewings of other properties booked. I have selected a local conveyancing solicitor in Hornsey. What should be my next step? When do I get the mortgage application with TSB started?
It is usual to have concerns where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx £1k, then survey, Hornsey conveyancing search fees, etc). First, you must ensure that your conveyancing practitioner is on the TSB approved list. Regarding the next steps this very much depends on the circumstances of your case, motivation for the property and on the state of the market. In a buoyant market the majority of buyers will apply for a home loan with TSB and arrange for the valuation and only if it comes back ok would they request their property lawyer to move forward with searches.
Do I need to pay for insurance to cover chancel repairs when buying a house in Hornsey?
Unless a previous acquisition of the premises took place after 12 October 2013 you can expect lawyers handling conveyancing in Hornsey to remain recommending a chancel search and or insurance against a claim.
I have justbecome aware that Stirling Law have been shut down. They carried out my conveyancing in Hornsey for a purchase of a leasehold flat 9 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The quickest way to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Hornsey conveyancing specialists.
I was pointed in your direction by a couple of local selling agents in Hornsey to choose a solicitor using your seach tool. What’s the financial advantage for Estate Agents to offer your site over and above a competitor’s?
We don’t make any financial incentive for sending work in our direction. We thought it would be too underhand a fee as home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I need to instruct a conveyancing solicitor for purchase conveyancing in Hornsey. I've land on a site which seems to have the perfect solution If there is a chance to get all formalities done via phone that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My wife and I have hit a brick wall in negotiating a lease extension in Hornsey. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to arrive at the sum to be paid.
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.
In relation to leasehold conveyancing in Hornsey what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Hornsey. Most leases are unique and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:
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Maintenance charge proportions which don’t add up to the correct percentage
You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Barnsley Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.