Is there a reason why leasehold purchase conveyancing in Holborn is more expensive?
The conveyancing fees on a leasehold property in Holborn is frequently more expensive than on a freehold transaction. This is due to the additional time required in liaising with the freeholder and managing agents to collate the evidence concerning whether the rent and maintenance fee have been cleared and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the block.
We have a mortgage agreed in principle with Skipton. Holborn conveyancing solicitors were appointed. What is the average time that one could expect to receive a mortgage offer from Skipton?
There is no definitive answer here. Have Skipton completed the valuation? Have you informed Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I recently had an offer accepted on a house in Holborn. My financial adviser recommended their conveyancers. I paid an upfront payment of £175. Not long after, the conveyancer called me embarrassingly acknowledging that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
About to purchase apartment in Holborn. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the TSB conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Holborn property lawyer is on the TSB conveyancing panel.
4 months have gone by following my purchase conveyancing in Holborn took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Just had an offer accepted on a new build apartment in Holborn. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Holborn
Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. Please confirm the Lease plans are architect prepared.
I am looking for a leasehold apartment up to £195,000 and found one close by in Holborn I like with a park and station in the vicinity, the downside is that it only has 49 years on the lease. There is not much else in Holborn in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
I have just appointed agents to market my garden flat in Holborn. Conveyancing is yet to be initiated, but I have recently received a yearly maintenance charge invoice – what should I do?
The sensible thing to do is discharge the service charge as usual as all ground rent and maintenance payments should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment 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. This will smooth the conveyancing process.
I am the leaseholder of a two-bedroom flat in Holborn. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the LVT to calculate the price.
An example of a Lease Extension case for a Holborn premises 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 was in relation to 1 flat. The unexpired term as at the valuation date was 66.8 years.