IfI was to purchase a freehold propertyin Alexandra Park for cash and have no survey and no local authority searches how much would I expect to to save on my conveyancing in Alexandra Park?
The only saving you would make on is the Alexandra Park conveyancing searches. Your property lawyer is obliged to do the vast majority of work - money laundering, correspond with the sellers solicitor, SDLT return, register the ownership etc. A marginal saving might be made by not having to register a charge however it will not be a lot.
Is there a reason why leasehold purchase conveyancing in Alexandra Park is more expensive?
In summary, leasehold conveyancing in Alexandra Park and North London usually warrants extra due diligence compared to freehold transactions. This includes lease investigation, liaising with the landlord about serving required notices, procuring current service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
We wanted to use a conveyancing solicitor in Alexandra Park for our house purchase. Our broker has since advised us that our mortgage lenders Bank of Scotland won't deal with them. Why is this not regarded as unduly restrictive?
A decade ago most mortgage companies had an appetite for risk which was higher than today. Almost all Alexandra Park conveyancing firms would have been on most bank panels. The financial services regulator in 2010 conducted a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more data from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum amount of conveyancing. Many Alexandra Park conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Alexandra Park is one of the many areas where the solicitors showing on our search results are are approved Bank of Scotland.
It has been four months since my purchase conveyancing in Alexandra Park completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Alexandra Park is where the house is located. Can you offer any advice?
Flying freeholds in Alexandra Park are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Alexandra Park you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Alexandra Park may decide 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 premises.
I need to instruct a conveyancing lawyer in Alexandra Park for my house move. Can I see a solicitor's record with the legal regulator?
One can review published Solicitor Regulator Association (SRA) determinations stemming from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training reasons.