Various internet forums that I have visited warn that are a common reason for delay in North London house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in North London.
How does conveyancing in North London differ for new build properties?
Most buyers of new build residence in North London contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is finished. This is because new home sellers in North London tend to purchase the land, 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 conveyancing solicitors 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 used to new build conveyancing in North London or who has acted in the same development.
I'm remortgaging my existing house to a BTL loan with Britannia and I will use the rest of the raised equity as a deposit on a second property. The neighborhood we are looking at is North London. Will your lawyers be able to act for the two mortgage companies and link together the transactions?
Make use of our comparison tool on this page to ensure that the solicitors are on the appropriate lender panels. On the basis that they are the lawyer should be able to connect the two transactions but you should have a chat with you lawyer and communicate your expectations and requirements.
My partner has recommend that I appoint his conveyancers in North London. Should I use them?
Much as we are happy to recommend a North London conveyancing lawyer the ideal way to find a conveyancing lawyer is to have recommendations from friends or family who have used the firm that you are are thinking of instructing.
Do you have any top tips for leasehold conveyancing in North London from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in North London can be avoided if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers. You believe that you know the number of years remaining on your lease but it would be wise to verify this via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is under 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Arranging a replacement share certificate is often a lengthy formality and slows down many a North London conveyancing transaction. If a new share certificate is necessary, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity. Some North London leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
Following years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in North London. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We are happy to put you in touch with a North London conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a North London residence is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case related to 1 flat. The unexpired lease term was 73.26 years.
Our conveyancing in North London is set to complete this Friday, however the vendors I am purchasing from wishes to move out 24 hours later at afternoon. Can I agree to this?
It is not possible to complete on a Saturday because the bank systems aren't operational.