I have been told that property searches are the main cause of stalling in Islington conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Islington.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The conveyancers who handled the conveyancing in Islington 10 years ago have long since closed. What are my next steps?
These day there are copies made of almost everything, and your conveyancer should be aware exactly where to look for all the appropriate paperwork so you may buy or sell your house without any difficulty. If duplicates are not available, your conveyancer may be able to put in place insurance or indemnities against future claims on the property.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Islington. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Islington
-
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I am looking for a flat up to £235,500 and found one close by in Islington I like with open areas and railway links in the vicinity, however it only has 61 years unexpired on the lease. I can't really find anything else in Islington in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
I'm converting the mortgage on my existing property to a BTL loan with National Westminster Bank and I will use the rest of the raised equity towards another house. The location we are looking at is Islington. Will your solicitors be able to act for both sets of banks and link together the two deals?
Do use our comparison tool on this site to ensure that the conveyancers are approved by both banks. On the basis that they are your lawyer will be able to connect the two deals but you should have a chat with you lawyer and make clear your expectations and needs.
To what extent are Islington conveyancing solicitors under an obligation to the Law Society to issue clear conveyancing costs?
Contained within the Solicitors Code of Conduct are prescriptive rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not intended as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, represent the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Islington or beyond.