My husband and I are only a couple days away from an exchange on a house in Hornsey and my mum and dad have sent the ten percent deposit to my property lawyer. I am now informed that as the deposit has not come from me my conveyancer needs to disclose this to my lender. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
The conveyancer is obliged to check with lender to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Hornsey. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 9/5/2024, the requirements read as follows :
I am downsizing from our house in Hornsey and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A local conveyancer would know this is not the case. It does beg the question why the buyers are using a nationwide conveyancing firm as opposed to a conveyancing solicitor in Hornsey. Having lived in Hornsey for many years we know of no issue. Do we contact our local Authority to obtain confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing firm already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
The estate agent has sent us the confirmation of our purchase of a new build apartment in Hornsey. Conveyancing is daunting 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 are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Hornsey
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I have been on the look out for a leasehold apartment up to £305k and identified one round the corner in Hornsey I like with a park and railway links nearby, however it only has 61 years unexpired on the lease. There is not much else in Hornsey suitable, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage the shortness of the lease will be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
In my capacity as executor for the will of my grandfather I am selling a property in Newport but reside in Hornsey. My conveyancer (based 260 miles awayrequires that I sign a statutory declaration before the transaction finalising. Can you recommend a conveyancing lawyer in Hornsey to attest this legal document for me?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are located in Hornsey