We are about to exchange contracts for a semi detached house in New Southgate. We have hit a problem. Our mortgage offer with Halifax runs out on 5/9/2025 but the vendors are suggesting a completion date of 9/9/2025. Is it possible to prolong the loan offer?
The person best placed to address this concern is your lawyer who will calculate whether he or she is should be discussing with the lender, vendor’s conveyancers, selling agents or conceivably all parties given what has gone on in your conveyancing as of today.
I purchased a freehold house in New Southgate but nevertheless charged rent, why is this and what is this?
It is rare for properties in New Southgate and has limited impact for conveyancing in New Southgate but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
I am being told by my solicitor that chancel insurance is needed on my purchase. What is the level of cover for New Southgate conveyancing?
The appropriate level of chancel indemnity insurance depends on your lender. It would differ for example between HSBC Bank and The Royal Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such policies.
I have today made my last payment due on my mortgage with Nationwide. I assume I don't need a New Southgate property lawyer on the Nationwide panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nationwide 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 Nationwide mortgage from the register. Nationwide, 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 Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
My offer was accepted on an apartment in New Southgate on 19/5/2025, valuation was booked 2 days after, all came back fine. Solicitor appointed, so all that was missing was my mortgage offer. Having made daily calls to UBS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the UBS conveyancing panel. Can the lender hold off the offer?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
In what way can the Landlord & Tenant Act 1954 impact my business offices in New Southgate and how can your lawyers assist?
The particular law that you refer to affords protection to commercial tenants, granting the a statutory right to make a request to court for a renewal tenancy and continue in occupation at the end of an expired lease. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. New Southgate is one of the numerous areas of the UK in which our lawyers have offices
How much should conveyancing in New Southgate cost?
The amount you are charged for New Southgate conveyancing fees can differ considerably from firm to firm. Given these variations it all the more important that you find this out when you first instruct a conveyancer. One should always seek a few fee estimate.