I am in a contract race with another prospective purchaser for a property in Hampstead. What can I do to expedite matters?
In the event that the seller is applying pressure to complete we would recommend that your conveyancer is familiar with the location as they will benefit local contacts and knowledge. It is possible that they may have handled otherhouses in the same road. Therefore consider using a Hampstead conveyancing solicitor. In addition, be sure that the conveyancing firm is on the lender panel. It is believed that 18% of Hampstead conveyancing transactions are delayed or derailed after discovering a buyer’s conveyancer was not on their mortgage lender’s panel. This can often result in the buying process being delayed by an average of three weeks. It is claimed that this issue affects approximately 100,000 home moves every year. Most Hampstead conveyancing practices can not represent certain lenders so do check at the outset.
I am the registered owner of a freehold property in Hampstead yet charged rent, why is this and what is this?
It’s unusual for properties in Hampstead and has limited impact for conveyancing in Hampstead 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 date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. Hampstead is the location of the property. What do you suggest?
Flying freeholds in Hampstead are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hampstead you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hampstead may determine 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.
What does commercial conveyancing in Hampstead cover?
Hampstead conveyancing for business premises incorporates a broad range of advice, offered by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
We're FTB’s - agreed a price, yet the agent told us that the seller will only go ahead if we appoint their preferred solicitors as they need a ‘quick sale’. My instinct tells me that we should use a high street conveyancer who is familiar with conveyancing in Hampstead
It is improbable the sellers are driving this. If they desire ‘a quick sale', turning down a motivated purchaser is not the way to achieve this. Try to communicate with the owners directly and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you intend to use your own,trusted Hampstead conveyancing firm - not the ones that will provide the negotiator at the agency a kickback or achieve conveyancing thresholds pre-set by HQ.
I am purchasing a maisonette with all finances in place. I have provided lawyer with two separate evidence of photo ID, bank statement, multiple utility bills. Now he needs a copy from a probate lawyer acknowledging that the money is in place and that it has come from inheritance and not dealing E's in Ibiza.
In today’s world you will not be able to complete any Hampstead conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Proof of your source of funds is required under Money Laundering laws.