Willinstructing a Harringay conveyancing practice make the legal process smoother?
Harringay is a special area, where neighbourhood insight counts for a lot. The laid-back lifestyle has an upside – just not for your house move. The solicitors that we list providing wide Harringay know how with a proactive, hands-onattitude that ensures the conveyancing to progress hassle free. It is a distinct advantage if they benefit from long term connections with financial advisers, estate agents, valuers and other Harringay conveyancing practices
My aunt passed away last year and as sole heir and executor I was left the house in Harringay. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this possible?
Given you intend to re-mortgage then Yorkshire BS will require that you use a conveyancer on the Yorkshire BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Yorkshire BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Yorkshire BS mortgage is registered as a charge at the Land Registry.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Harringay?
There are many registered licenced Conveyancers in Harringay and Solicitor partnerships in Harringay who can assist with your conveyancing We would stress that both are regulated professionals specialising in the legal aspects of the home buying process. The two can deal with associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I happen to be the only beneficiary of my late grandmother’s will and I have everything in my name now, including the house in Harringay. The Harringay property was put into my name in August. I plan to dispose of the property. I do know about the Mortgage Lenders 6 month 'rule', meaning my proprietorship could be considered the same way as if I'd bought the house in August. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. How sensible a view lenders take of it, depend on the lender as this obligation primarily exists to pick up on subsales or the wholesaling and assigning of property.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Harringay conveyancer on the Leeds Building Society panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
I am purchasing my first flat in Harringay with the aid of help to buy. The builders would not budge the amount so I negotiated 6k of extras instead. The estate agent suggested that I not reveal to my lawyer about this extras as it would impact my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the input of my in-laws I had a survey completed on a property in Harringay before instructing solicitors. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some banks tend refuse to give a loan on this type of home.
It varies from the lender to lender. HSBC has different requirements from Nationwide. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Harringay. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Harringay to see if the conveyancing will be more expensive.
I am a negotiator for a reputable estate agent office in Harringay where we see a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Harringay conveyancing firms. Could you clarify whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I have had difficulty in negotiating a lease extension in Harringay. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a Harringay conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Harringay premises is 37 St. Margarets Avenue in January 2010. Following a vesting order by Edmonton County Court on 8th November 2008 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £20,543 This case affected 2 flats. The remaining number of years on the lease was 74.75 years.