Our Crouch End lawyer has spotted a difference between the assumptions in the valuation survey and what is in the legal papers for the property. My solicitor has advised that he needs to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my solicitor’s stance right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
A relative advised me that if I am buying in Crouch End I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Crouch End conveyancing searches. It is not a small report of more than thirty pages, listing and setting out significant information about Crouch End around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Crouch End Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful data regarding Crouch End.
I have justbeen informed that Action Conveyancing have closed. They conducted my conveyancing in Crouch End for a purchase of a freehold house 12 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The easiest way to check if the premises 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 Crouch End conveyancing specialists.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one near me in Crouch End I like with amenity areas and railway links in the vicinity, however it only has 51 years on the lease. There is not much else in Crouch End suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term may be an issue. Discount the price by the anticipated 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 ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
Estate agents have just been given the go-ahead to market my garden flat in Crouch End. Conveyancing lawyers have not yet been instructed, but I have just received a yearly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the maintenance contribution as normal because all rents and service invoices will be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Following years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Crouch End. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to assess the price payable.
An example of a Lease Extension decision for a Crouch End flat is Flat 2A 19 Shepherds Hill in June 2014. The tribunal concluded in accordance with section 48 and schedule 13 of the Leasehold Reform,Housing and Urban Development Act (the 1993 Act) that the premium payable in respect of the grant of a new lease for the Flat be £24,303 (twenty four thousand three hundred and three pounds) This case was in relation to 1 flat. The unexpired residue of the current lease was 67.85 years.
We are planning to purchase a 2 room apartmentin Crouch End with a home loan from a bank. We like our conveyancer in Crouch End however our bank inform us now that he's not on their "panel". Apparently we need to choose from the our bank panel firms or keep our Crouch End solicitor and incur the extra costs for one of their panel ones to represent our mortgage company. This seems very unfair; is there anything we can do?
No, not really. The mortgage company home loan offered to you is subject to conditions, one of which will be that solicitors will on the bank's conveyancing panel. in the past, most mortgage companies had large numbers of law firms on their panels, including many conveyancing solicitors in Crouch End : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for your lender.