At what point will exchange of contracts happen for sale conveyancing in Holloway and am I required to attend the solicitors office?
If you are near to one of the conveyancing solicitors in Holloway you are welcome to attend to sign documents. That being said, the firms we recommend provide countrywide coverage for conveyancing and give just as comprehensive and professional a job for you when communicating with you digitally. The signing of the purchase agreement is not when everything is set in stone. Signing on the dotted line is necessary for the firm to address the formalities at the suitable time, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Holloway)to be in the office at the appropriate time.
My aunt advised me that in buying a property in Holloway there could be various restrictions limiting what one can do in terms of external changes to a property. Is this right?
There are a number of properties in Holloway which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Holloway should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We had chosen solicitors based in Holloway on the UBS solicitor panel. They have just billed me an additional charge for dealing with the UBS mortgage. Is this a supplemental conveyancing fee set by UBS?
Unfortunately, so long as it is in their Terms of Engagement or estimate then yes your lawyer may levy a fee for this. The charge is not dictated by UBS but by your Holloway lawyer. Numerous firms on the UBS panel will charge ’dealing with mortgage’ fee and others do not.
We expect to receive a OIP from Yorkshire BS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Holloway solicitors on the Yorkshire BS conveyancing panel, or is it better to go independently?
You will need to appoint Holloway solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
Are there restrictive covenants that are commonly identified during conveyancing in Holloway?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Holloway. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Holloway differ for newly converted properties?
Most buyers of new build or newly converted property in Holloway approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is built. This is because new home sellers in Holloway tend to buy 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 conveyancers 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 accustomed to new build conveyancing in Holloway or who has acted in the same development.
As co-executor for the will of my grandfather I am disposing of a property in Newport but reside in Holloway. My solicitor (approximately 250 miles awayrequires that I sign a stat dec prior to the transaction finalising. Can you recommend a conveyancing practitioner in Holloway to attest and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are based in Holloway
Why do Holloway conveyancing costs are more expensive for leasehold and freehold properties?
When purchasing a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control