Why do I have to pay up front when it comes to conveyancing in Hampstead?
Where you are retaining lawyers for conveyancing in Hampstead your solicitor will ask you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the down payment is as part of the total price then this should be needed shortly in advance of exchange of contracts. The closing balance that is due will be payable a couple of days ahead of the completion date.
I have been told that property searches are the number one reason for hinderance in Hampstead house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Hampstead.
I am purchasing a new build house in Hampstead benefiting from help to buy. The developers refused to move on the price so I negotiated £7000 of extras instead. The house builders rep suggested that I not to tell my solicitor about the extras as it would put at risk my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am selling my home. My former conveyancers have shut. I would be grateful for any recommendation of a conveyancing firm. Im based in Hampstead if that affects matters.
You should use our search tool to help you choose a solicitor for your conveyancing in Hampstead. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
I need to retain a conveyancing solicitor for residential conveyancing in Hampstead. I have discover a site which looks to be the ideal offering If there is a chance to get all this stuff done via email that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Last October I purchased a leasehold property in Hampstead. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Hampstead conveyancing firm to act on my behalf?
Where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to determine the sum to be paid.
An example of a Lease Extension case for a Hampstead property is Raised Ground Floor Flat 20 Fitzjohns Avenue in July 2014. the Tribunal decided that the premiums to be paid for new leases in respect of the Raised Ground Floor Flat and the First Floor Flat were to be calculated as: Raised Ground Floor: £765,175.14 First Floor: £601,617.77 This case related to 2 flats. The number of years remaining on the existing lease(s) was 16.83 and 16.43.