My partner and I are purchasing a newly built apartment in Golders Green and my lawyer is informing me that she has to the lender to disclose incentives from the seller. I am under pressure to sign contracts and I have no desire to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender 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.
Have completed on a a detached house in Golders Green , What is the estimated time for the Land Registry to deal with the formalities evidencing my proprietorship? My Golders Green conveyancing solicitor has been very slow, so I want to check that my ownership is registered.
As far as conveyancing in Golders Green registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timeframes can differ according to who lodges the application, whether there are errors and whether the Land registry must send notices to any third parties. As of today roughly three quarters of submission are fully dealt with in less than three weeks but some can be subject to longer delays. Registration takes place after the purchaser is living at the premises thus post completion formalities is not usually an essential issue yet if there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Golders Green differ for newly converted properties?
Most buyers of new build property in Golders Green contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Golders Green tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Golders Green or who has acted in the same development.
I am looking for a ground for flat up to £245,000 and found one round the corner in Golders Green I like with open areas and transport links in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Golders Green for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage that many years may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
What advice can you give us when it comes to appointing a Golders Green conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Golders Green conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with several firms including non Golders Green conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be helpful:
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How familiar is the firm with lease extension legislation? What are the legal fees for lease extension work?
Having spent months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Golders Green. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the price payable.
An example of a Lease Extension case for a Golders Green premises is Flat A 372 Cricklewood Lane in January 2013. The Tribunal decided that the premium for the extended lease should be £5,750.00 and that the terms of the new lease should be those set out in annex to the decsion This case was in relation to 1 flat.
To what extent are Golders Green conveyancing solicitors duty bound by the Law Society to issue transparent conveyancing figures?
Inbuilt into the Solicitors Code of Conduct are specific rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not intended as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, represent the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Golders Green or beyond.
