we are a couple who are buying a 3 bedroom apartment in Primrose Hill with a homeloan from Skipton Building Society.We like our Primrose Hill conveyancing solicitor but Skipton Building Society advised that she’s not on their "panel". we are left little option but to use a Skipton Building Society panel firm or retain our high street solicitor and pay for a Skipton Building Society panel lawyer to represent them. This seems very unfair; Can we not simply insist that Skipton Building Society use our lawyer?
No, not really. The loan issued to you is subject to its terms and conditions, one of which will be that solicitors needs to be on the Skipton Building Society solicitor panel. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Skipton Building Society
Have just purchased a probate house at auction in Primrose Hill. Conveyancing is needed. What are my next steps?
Having to all intents and purposes signed on the dotted line you now have to appoint a conveyancing solicitor quickly as you are faced with a tight a drop dead date to complete the purchase. An auction property will have a corresponding legal set of papers. This should include evidence of title and search results. In the case of leasehold premises the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You must pass this on to the conveyancer working for you as soon as possible. Do make sure that your finances are organised to complete the transaction on the set completion date.
We are purchasing a 3 bedroom semi in Primrose Hill. The intention is to an extension at the rear at the property.Will legal work on the property involve investigations to determine if these works are permitted?
Your solicitor should review the registered title as conveyancing in Primrose Hill can sometimes identify restrictions in the title deeds which prevent categories of works or need the permission of another owner. Some extensions need local authority planning permissions and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be sensible to check these things with a surveyor ahead of any purchase.
Can I be sure that the Primrose Hill conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Primrose Hill getting recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor handling your conveyancing.
2 months have gone by following my purchase conveyancing in Primrose Hill completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. 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 property 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.
How does conveyancing in Primrose Hill differ for new build properties?
Most buyers of new build or newly converted property in Primrose Hill approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is finished. This is because builders in Primrose Hill tend to purchase the real estate, 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 property lawyers 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 Primrose Hill or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Primrose Hill is where the house is located. Is there any guidance you can give?
Flying freeholds in Primrose Hill are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Primrose Hill you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Primrose Hill may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
We own a leasehold flat in Primrose Hill. Conveyancing was finalised in 21012. I have been told that I should not let the lease length fall too short. What is the reasoning?
Primrose Hill leasehold properties are for a fixed period - often 99 years when they are first granted. However a significant flats in Primrose Hill were constructed or converted in the 60’s and so these leases now have fewer than eighty years remaining. That may seem like a long time however Banks, Building Societies and other mortgage lenders on the whole need leases to have at least seventy five years left to adequate security. Accordingly when you come to sell the property you will need to extend the term of your lease if you are nearing seventy five years. To optimize your property value you should be considering whether or not to extend your lease long before you come to sell it. Furthermore significant benefits to doing so before the lease hits 80 years as when the lease falls below 80 years the amount to be paid to extend starts to get a lot more expensive.