It is a dozen years since I acquired my property in Chalk Farm. Conveyancing lawyers have now been retained on the sale but I can't locate my title documents. Will this jeopardise the sale?
You need not be too concerned. First there is a chance that the deeds will be kept by your lender or they could be archived with the lawyers who oversaw the purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring up to date copy of the land registers. Almost all conveyancing in Chalk Farm involves registered property but in the unlikely event that your property is not registered it adds to the complexity but is not insurmountable.
My aunt pointed out to me me that in buying a property in Chalk Farm there may be a number of restrictions preventing external changes to the property. Is this right?
We are aware of anumerous of properties in Chalk Farm which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Chalk Farm should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Are all Chalk Farm Conveyancing Quality Solicitors on the RBS conveyancing panel?
Some major lenders now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
We previously chose conveyancers with offices in Chalk Farm on the Bank of Ireland solicitor approved list. They have just invoiced me an additional charge for handling the Bank of Ireland mortgage. Is this an additional conveyancing fee set by Bank of Ireland?
Provided it is contained in their Terms and Conditions or Quote then yes your property lawyer is entitled to levy a fee for this. The fee is not set by Bank of Ireland but by your Chalk Farm conveyancer. Plenty of firms on the Bank of Ireland panel will levy ’dealing with mortgage’ fee and others do not.
Should my conveyancer be making enquiries regarding flooding as part of the conveyancing in Chalk Farm.
The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Chalk Farm. There are those who buy a property in Chalk Farm, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to impart advice on flood risk, however there are a various checks that can be initiated by the buyer or by their lawyers which can figure out the risks in Chalk Farm. The conventional set of completed inquiry forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the seller to discover if the property has historically flooded. In the event that flooding has previously occurred and is not revealed by the vendor, then a buyer could commence a legal claim for losses as a result of such an inaccurate response. The purchaser’s solicitors may also order an enviro report. This will indicate whether there is any known flood risk. If so, additional investigations will need to be initiated.
I completed on my apartment on 2 April and the transaction details are still not registered. Any reason for this? My conveyancing solicitor in Chalk Farm expressed confidence that it should be recorded in a couple of weeks. Are transfers in Chalk Farm uniquely lengthy to register?
As far as conveyancing in Chalk Farm is concerned, registration is no quicker or slower than anywhere else in the country. Rather than based on location, timeframes can differ depending on the party submitting the application, whether there are errors and if the Land registry need to notify any 3rd parties. At present roughly three quarters of such applications are completed in less than three weeks but some can be subject to longer hold-ups. Registration is effected after the buyer has moved in to the premises therefore post completion formalities is not typically primary concern yet if it is urgent that the the registration takes place urgently then you or your conveyancer should communicate with the Registry to express the reasoning for an expedited registration.
I have been on the look out for a leasehold apartment up to £305k and found one round the corner in Chalk Farm I like with amenity areas and railway links nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Chalk Farm for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
Should I cancel the direct debit for my mortgage with Aldermore as soon as a completion date for my sale in Chalk Farm has been set?
You would be well advised to maintain paying any mortgage payments to Aldermore pending the mortgage being paid off out of the proceeds of sale as part of your Chalk Farm conveyancing.