My previous lawyer has quoted £1150 for leasehold conveyancing in North London. I am selling a newly refurbished property for £275,000. This sounds over the top. Is it in excess of the average fee for conveyancing in North London?
The estimate does seem a tad steep. If you shop around you might get the conveyancing a bit cheaper by say a hundred pounds. On the other hand, you couldlive to rue opting for an an untested lawyer. Remember to check that the solicitor can represent your bank. Do make use of our comparison tool to choose a North London conveyancing company on the banks conveyancing panel which can often include conveyancing solicitors in North London.
My solicitor has uncovered a defect with the lease for the flat we are purchasing in North London. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must check that the bank is willing to move forward with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
Why do I have to pay up front for conveyancing in North London?
Where you are retaining lawyers for conveyancing in North London your lawyer will request that you to provide them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the purchase price then this will be required shortly before contracts are exchanged. The closing balance that is due will be payable a couple of days prior to the day of completion.
I am buying a detached bungalow in North London. The intention is to convert the garage to an office at the house.Will the conveyancing process include enquiries to see if these alterations are permitted?
Your conveyancer will review the registered title as conveyancing in North London can occasionally reveal restrictions in the title deeds which prevent categories of changes or necessitated the permission of another owner. Some works call for local authority planning permissions and approval in compliance with building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
Can you help - my lawyer advises that flying freehold insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in North London?
The appropriate level of flying freehold indemnity insurance depends on who your lender is. It would differ for example between Accord Mortgages Ltd and Virgin Money. Conveyancing solicitors as opposed to members of the public take out such policies.
I have paid off my mortgage with Principality. I assume I don't need a North London property lawyer on the Principality panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
Given that I will soon spend 450k on a property in North London I would like to have a conversation with the conveyancer concerning thetransaction before giving the go ahead to the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer due to be doing your property ownership legalities in North London.There is no ‘factory style conveyancing’ - every client is unique individual, not a file number. The law firms that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in North London should be the amount on the final invoice that you are charged.
Having had my offer accepted I require leasehold conveyancing in North London. Before I set the wheels in motion I want to be sure as to the remaining lease term.
If the lease is registered - and 99.9% are in North London - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a ground-floor 1950’s flat in North London. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?
You certainly can. We can put you in touch with a North London conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a North London premises 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 affected 1 flat. The unexpired residue of the current lease was 73.26 years.