My husband and I are buying a new build flat in Finsbury and my conveyancer is advising me that she is duty bound to the lender to disclose incentives from the seller. The Estate Agents are hassling me to exchange contracts and I don't want to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
After reviewing mumsnet.com for a high-quality solicitor in Finsbury, most advise that I should look for a CQS kitemarked solicitor. What is CQS?
Finsbury Conveyancing Quality Scheme law firms have been granted certification by the law Society CQS was created to establish evidence of quality standards in the home buying process. CQS helps consumers to recognise practices that provide a quality residential conveyancing. Finsbury is one of locations in England and Wales in which CQS have a presence. The scheme obliges law firms to undergo a strict assessment, compulsory training, self-certification, spot checks and yearly assessments in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Legal Ombudsman.
We previously selected conveyancing lawyers locally in Finsbury on the Skipton solicitor panel. They are now charging me a supplemental sum for the legal aspects of the Skipton mortgage. Is this a supplemental conveyancing fee set by Skipton?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your conveyancer can charge a fee for this. This charge is not set by Skipton but by your Finsbury conveyancer. Numerous firms on the Skipton panel will charge an ‘acting for lender’ fee and others do not.
I am currently in the process of buying my council flat in Finsbury. I have a mortgage offer with Virgin Money. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Finsbury solicitor - who is on the Nottingham conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Finsbury surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
The deeds to our property can not be found. The lawyers who dealt with the conveyancing in Finsbury 10 years ago have long since closed. What do I do?
You no longer need to have the physical deeds to prove you are the registered proprietor of land or premises, as the Land Registry have everything they need in a digital format.
Due to the guidance of my in-laws I had a survey completed on a property in Finsbury in advance of instructing conveyancers. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies may refuse to give a mortgage on a flying freehold premises.
It varies from the lender to lender. Santander has different requirements for example to Halifax. If you contact us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Finsbury. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Finsbury to see if the conveyancing will be more expensive.
I am intending to sublet my leasehold apartment in Finsbury. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Finsbury do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
After years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Finsbury. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to decide the price.
An example of a Lease Extension decision for a Finsbury flat is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The unexpired residue of the current lease was 66.8 years.