Is the fact that my conveyancer in Hampton Wick is not identified on my mortgage company's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Hampton Wick conveyancing firm and enquire why they are no longer on the approved list for your lender.
I am acquiring a house for cash in Hampton Wick. I have been residing for the last 20 years in Hampton Wick. Conveyancing searches are exorbitant. As I know the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a home loan, then almost all of the Hampton Wick conveyancing searches are at your discretion. Your conveyancer will 'advise', no-doubt strongly, that you should have searches carried out, but he has a professional duty to take that path of guidance. One thing to bear in mind; if you are likely to sell the house in the future, it may be of importance to your prospective purchaser what the searches disclose. Sometimes houses with day to day issues can still reveal adverse search results. A competent conveyancing solicitor in Hampton Wick should provide you some helpful guidance here.
What will a local search inform me concerning the property I am buying in Hampton Wick?
Hampton Wick conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations for instance PSG The local search is essential in every Hampton Wick conveyancing purchase; as long as you don’t want any nasty surprises after you move into your property. The search will supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
My wife and I own a renovated Georgian house in Hampton Wick. Conveyancing lawyer represented me and Birmingham Midshires. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold under the matching address. Is it worth asking Birmingham Midshires to clarify?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hampton Wick and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing lawyer who conducted the purchase.
I have been on the look out for a leasehold apartment up to £235,500 and identified one close by in Hampton Wick I like with a park and transport links nearby, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Hampton Wick for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the remaining unexpired lease term may be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
Do you have any top tips for leasehold conveyancing in Hampton Wick from the point of view of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Hampton Wick can be reduced where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ solicitors. You may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is below 80 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. The majority of landlords or managing agents in Hampton Wick levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Hampton Wick. If you have had conflict with your landlord or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved. Some Hampton Wick leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
I have given up negotiating a lease extension in Hampton Wick. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We are happy to put you in touch with a Hampton Wick conveyancing firm who can help.
An example of a Lease Extension case for a Hampton Wick premises is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.