Willusing a Chalk Farm conveyancing firm make my purchase more efficient?
Generally conveyancing practitioners in your location will enjoy strong alliances with your local authority, which could help with the Chalk Farm conveyancing searches that your lawyer will need to carry out. It also helps if they have good rapport with the Local Land Registry Office your area Chalk Farm, other property lawyers in the neighbourhood and Chalk Farm selling agents.
We are a couple about to sign contracts for a garden flat in Chalk Farm. We encountered a snag. The loan offer with Bank of Ireland runs out on 16/8/2022 but the sellers are putting forward a completion date of 18/8/2022. Can one prolong the loan expiry date?
The person best placed to address this concern is your conveyancer who is in a position to calculate whether they better off negotiating with the mortgage broker, owner’s solicitors, selling agents or indeed all three based on the circumstances your conveyancing as of today.
Is there a reason why leasehold purchase conveyancing in Chalk Farm costs more?
The conveyancing charges on a leasehold premises in Chalk Farm is inevitably higher than on a freehold property. This is due to the additional time necessary in communicating with the landlord and management company to obtain evidence about whether the rent and maintenance charges have been paid and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the building.
My grandfather passed away last year and as sole heir and executor I was left the house in Chalk Farm. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this possible?
Where you intend to refinance then Nottingham will insist on your using a conveyancer on the Nottingham conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nottingham conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nottingham mortgage is registered as a charge at the Land Registry.
Forgive me if this question is silly but I am unexperienced as a first time purchaser of a garden flat in Chalk Farm. Do I collect the keys to the house on the completion date from my lawyer? If so, I will find a local conveyancing solicitor in Chalk Farm?
On the day of completion you do not need to attend the conveyancers office in Chalk Farm. Your solicitors will transfer the purchase money to the vendor’s conveyancers, and shortly after the monies have arrived, you will be invited to receive the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
I happen to be the sole beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Chalk Farm. The Chalk Farm property was put into my name in May. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', which means that my property ownership will be considered the same way as if I'd bought the house in May. Is the property unsalable for six months?
The CML handbook requires 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 caught by that. Some lenders would take a sensible view as this provision is principally there to pick up on subsales or the flipping of properties.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Chalk Farm lawyer on the Yorkshire BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Yorkshire BS 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 Yorkshire BS mortgage from the register. Yorkshire BS, 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 Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Chalk Farm is where the house is located. What do you suggest?
Flying freeholds in Chalk Farm are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Chalk Farm you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chalk Farm may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.