The housing market in Islington is heating up. What can I do to hasten the buying process?
In a situation where the seller is applying pressure to sign contracts it is advisable to make sure that your solicitor is familiar with the area as they will benefit local connections and know-how. It is even conceivable that they may have handled previoushomes in the same street. You would be best advised to use a Islington conveyancing solicitor. Second, ensure that the conveyancing firm is on the on the approved list for your mortgage company. It is believed that just under twenty per cent of Islington conveyancing deals are suspended or derailed after discovering a purchaser’s lawyer was not on their mortgage lender’s panel. In many cases this discovery resulted in the conveyancing being held up by as much as 21 days. It is claimed that this issue impacts approximately one hundred thousand home sales annually. Many Islington conveyancing practices can not represent certain lenders so do check as early as possible.
I note that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when buying a residence in Islington? or Apparently there is a law dating back centuries that could mean that owners of property living in a parish church boundary will be compelled to pay for maintenance towards the chancel in proximity to the church. Is this applicable for conveyancing in Islington?
Unless a previous purchase of the premises took place after 12 October 2013 you could assume that conveyancing practitioners handling conveyancing in Islington to continue to recommend a chancel search and or insurance against a claim.
It has been four months following my purchase conveyancing in Islington took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. 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.
I have been on the look out for a flat up to £235,500 and identified one close by in Islington I like with a park and railway links in the vicinity, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Islington suitable, 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 shortness of the lease will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I was advised by a number of selling agents in Islington to find a conveyancer on your site. What’s the financial upside for Estate Agents to recommend your lawyers rather than alternative conveyancing organisations?
We refuse to make any financial incentive for directing people in our direction. We thought it would be too underhand to pay a commission as members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
What are my options where I am not happy with the property lawyer who did my conveyancing in Islington?
We live in an imperfect world, and is is a fact of life that occasionally matters do not go as planned. Nevertheless there is recourse where you were dissatisfied with your conveyancing in Islington. This varies from trying to resolve matters directly with them, through to reporting a conveyancer to their regulator. If things still aren’t resolved you may consider getting in touch with the Legal Ombudsman.