Just contacted my conveyancing lawyer in Finsbury Park who conducted the legals two years ago and wanted a conveyancing estimate based on an identical type of home move (a leasehold premises and a freehold property) of similar values with a loan from Platform Home Loans Ltd. It looks as though am now being charged twice the amount. Should I look for an alternative property lawyer?
The estimate does seem a tad overpriced. If you you were to look around you might decrease the fees marginally by say a hundred pounds. On the other hand, if you were happy with the assistance the firm provided you couldcome to rue choosing an a cheaper lawyer. Remember to check that the firm can also act for Platform Home Loans Ltd. You can employ our search tool to locate a Finsbury Park conveyancing firm on the Platform Home Loans Ltd conveyancing panel, which can often include conveyancing solicitors in Finsbury Park.
Due to move into my new home in Finsbury Park next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What does the insurance need to cover?
Any lawyer on acting for lenders 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 requirements are not specific to conveyancing in Finsbury Park.
My Solicitor in Finsbury Park is not listed on the Bank of Ireland Approved Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are not on the Bank of Ireland panel?
Your options are as follows:
- Carry on with your existing Finsbury Park lawyers but Bank of Ireland will need to instruct a solicitor on their list of acceptable firms. This will result in additional total legal fees as well as cause frustration.
- Get an alternative solicitor to act in the purchase, remembering to check they are on the Bank of Ireland panel
I own a 4 bedroom Edwardian house in Finsbury Park. Conveyancing practitioner acted for me and Bank of Scotland. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Finsbury Park and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing practitioner who conducted the work.
My husband and I are first time buyers - had an offer accepted, but the estate agent has warned us that the owners will only go ahead if we instruct their chosen conveyancers as they need a ‘quick sale’. My instinct tells me that we should use a local conveyancer who is accustomed to conveyancing in Finsbury Park
We suspect that the seller is not behind this ultimatum. If they require ‘a quick sale', taking such a hostile approach to a genuine purchaser is counter productive. Bypass the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you intend to use your preferred Finsbury Park conveyancing solicitors - not the ones that will provide their estate agent a introducer fee or meet his conveyancing thresholds demanded by corporate headquarters.
Can you offer any advice when it comes to appointing a Finsbury Park conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Finsbury Park conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggest that you talk with several firms including non Finsbury Park conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:
How experienced is the firm with lease extension legislation? If they are not ALEP accredited then why not?
I am the registered owner of a first flat in Finsbury Park. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
in cases where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to determine the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Finsbury Park flat is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case related to 1 flat. The number of years remaining on the existing lease(s) was 71 years.