My Highbury conveyancer has identified a difference when comparing the assumptions in the home valuation report and what is in the legal papers for the property. My lawyer has advised that he must check that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s stance legitimate?
Your property lawyer 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.
Why do I have to pay up front for conveyancing in Highbury?
If you are buying a property in Highbury your solicitor will ask you place them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any down payment is as part of the sale price then this should be required immediately before contracts are exchanged. The closing balance that is needed will be payable shortly before completion.
There is lots of here regarding conveyancing in Highbury but what is your top tip for selecting the right conveyancer in Highbury
It would be unwise to be swayed by the lowest Highbury conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
Does a directory service exist listing UBS panel conveyancers in Highbury on the Council of Mortgage Lender’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. Very few mortgage companies make their panel listings available online. Where you are in need of a Highbury conveyancer on the UBS please use our facility.
is it true that all Highbury solicitor practices on the Lloyds conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Lloyds approved list of solicitors they would need to be overseen by the SRA. Many banks do allow licenced conveyancers on their panel in which case such organisation would be governed by the CLC.
I am purchasing a new build house in Highbury with the aid of help to buy. The builders refused to reduce the price so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not to tell my solicitor about the extras as it could jeopardize my loan with Clydesdale. Do I keep my lawyer in the dark?.
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.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a quick, no chain conveyancing. Highbury is the location of the property. Is there any guidance you can give?
Flying freeholds in Highbury are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Highbury you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Highbury may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I have just appointed agents to market my ground floor apartment in Highbury. Conveyancing has not commenced, but I have recently had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is clear the invoice as normal because all rents and service charges will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Highbury. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to decide the premium.
An example of a Lease Extension matter before the tribunal for a Highbury property is Lower Flat 16A Beatty Road in September 2012. The premium payable was £13,577. The terms of the lease has been agreed between the Applicants and the First Respondent and the Tribunal did not seek to disturb that agreement. This case affected 1 flat.