A relative pointed out to me me that in purchasing a property in Holborn there could be various restrictions affecting the ability to carry out external changes to the property. Is this right?
There are a number of properties in Holborn which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Holborn should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I'm the single beneficiary of my late father’s estate and I have everything in my name now, including the house in Holborn. Conveyancing formalities meant that the Land Registry date was in December. I now wish to sell up. I do know about the CML six month 'rule', which means that my property ownership may be considered the same way as if I'd bought the property in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. How practical a view mortgage companies take of it, depend on the mortgage company as this requirement is primarily there to identify subsales or the flipping of property.
When it comes to lenders such as Yorkshire BS, do Holborn conveyancers face an annual charge to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
My friend recommended that where I am purchasing in Holborn I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Holborn conveyancing searches. It is not a small document of about 40 pages, listing and setting out significant information about Holborn around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Holborn Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful data regarding Holborn.
I'm purchasing my first flat in Holborn with a loan from Lloyds TSB Bank. The developers refused to move on the price so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not to tell my conveyancer about the side-deal as it will impact my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
In surfing the internet for the words cheap conveyancing in Holborn it brings up numerous solicitorsin the vicinity. How do I determine which is the right conveyancer for me?
The ideal method of finding a suitable conveyancer is through a personal referral, so ask colleagues and relatives who have purchased a property in Holborn or the reputable estate agent or financial adviser. Costs for conveyancing in Holborn vary, so it's advisable to request a minimum of three fee calculations from different property lawyers. Make sure that you clarify that the charges are guaranteed not to increase.
I've recently bought a leasehold flat in Holborn. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a first flat in Holborn. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
in cases where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the price.
An example of a Lease Extension case for a Holborn residence 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 affected 1 flat. The remaining number of years on the lease was 66.8 years.
How do I search for a Holborn conveyancing solicitor on the lender conveyancing panel? I have a car and am prepared to travel up to 10kilometers to attend the solicitor.
You can use the find a conveyancing panel tool on this website. Please choose the lender and your location, in this case Holborn and you will see a number of lawyer located nearest Holborn. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the mortgage company solicitor panel.