We selected a local lawyer for my conveyancing in Archway last week. Reviewing the Terms and Conditions I seeI am responsible for charges even if the movefalls through. Would I be best advised to appoint an on-line conveyancing brokerage promising no move no charge conveyancing in Archway?
It is usually a trade off in that if "No Completion No Fee" is available then the fee levels will tend to be be more expensive to cover those transactions that do not proceed. Also remember that these promotions rarely cover expenses such as Archway conveyancing search costs.
All was ready to complete my purchase in Archway next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These obligations are not specific to conveyancing in Archway.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Archway. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 11/7/2019, the requirements read as follows :
I used Wolstenholmes several years ago for my conveyancing in Archway. I now require my file however cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Archway of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in Archway I like with a park and transport links in the vicinity, however it only has 61 years on the lease. There is not much else in Archway for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
As a leasehold owner I am on the hook for a maintenance contribution for my first floor flat in Archway. As a result of personal circumstances I fell behind with payments. I negotiated a settlement plan but there remains two outstanding as of today.
I am under pressure to dispose of the property and I am panicking this could hold me back if I have to pay off the arrears first. Do I have to settle before - is this viable?
It would be wise to speak with the conveyancing practitioner dealing with your Archway conveyancing but it might be possible to arrange for the outstanding amount to be transferred to the buyers. The purchase price due would be reduced to reflect the amount of debt they take on. They would then pay the arrears once they are the owners.