My husband and I are only a couple days away from an exchange on a flat in Muswell Hill and my parents have sent the ten percent deposit to my conveyancer. I am now advised that as the deposit has not arrived from me my property lawyer needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the lender concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your property lawyer is obliged to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Can you explain why leasehold purchase conveyancing in Muswell Hill is more expensive?
The conveyancing fees on a leasehold premises in Muswell Hill is often more expensive when contrasted to a freehold acquisition or disposal. This is because there is an amount of extra investigations necessary in liaising with the landlord and management company to collate the information about whether the rent and service charges have been discharged and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
My bid for a property was accepted at auction in Muswell Hill. Conveyancing is needed. What is next?
Now that you have legally bound yourself to purchase you will need to find a conveyancing solicitor soon as you are facing a pending a fixed date to complete the purchase. An auction property will have a bespoke auction pack. This should include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the legal papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You must give this to your appointed conveyancing solicitor ASAP. Do make sure that that you have the requisite funding organised to complete the transaction on the set completion date.
My father informed me that in buying a property in Muswell Hill there may be a number of restrictions as to what one can do in terms of external changes to a property. Is this right?
There are anumerous of properties in Muswell Hill which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Muswell Hill should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am due to exchange contracts on my apartment. I had a double glazing fitted in April 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Santander are being a right pain. The Muswell Hill solicitor who is on the Santander conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Santander are insisting on a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one near me in Muswell Hill I like with open areas and transport links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Muswell Hill suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage the remaining unexpired lease term may be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
I need to retain a conveyancing solicitor for purchase conveyancing in Muswell Hill. I have land on a web site which seems to have the perfect answer If it is possible to get all formalities done via email that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Having checked my lease I have discovered that there are only 68 years unexpired on my flat in Muswell Hill. I am keen to extend my lease but my freeholder is missing. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to find the lessor. On the whole a specialist may be useful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Muswell Hill.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Muswell Hill conveyancing firm to assist?
in cases where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to assess the price payable.
An example of a Lease Extension decision for a Muswell Hill property is Flat B 10 Grove Avenue in October 2013. Following a vesting order Clerkenwell and Shoreditch County Court 3rd July 2013 The tribunal determines that the premium payable for the lease extension was £36,215.00 This case was in relation to 1 flat. The unexpired residue of the current lease was 65.21 years.