I can't travel far from Harold Park. Can you please clarify why all Harold Park property lawyers are not on all mortgage company panels?
Banks ordinarily restrict either the type or volume of conveyancing solicitors on their panel. Frequent examples of such criteria being that the practice is required to have at least two partners. In addition to restricting the type of firm, some banks such as HSBC decided to limit the size of their panel they allow to represent them. You should note that mortgage companies have no responsibility for the accuracy of conveyancing provided by any Harold Park conveyancing practitioner on their approved list. Increases in mortgage fraud was a key driver in the reduction of solicitor panels a few years ago notwithstanding that there are opposing views concerning the extent of solicitor involvement in some of that fraud. Statistics from HM Land Registry reveal that thousands of law practices only conduct less than three conveyances annually. Those supporting conveyancing panel cuts ask why law firms should have claim to remain on a bank panel when it is evident that conveyancing is not their primary expertise?
I am nearing an exchange on a house in Harold Park and my parents have transferred the exchange deposit to my conveyancing practitioner. I am now advised that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
Your lawyer is legally required to clarify with lender to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
It has been four months since my purchase conveyancing in Harold Park concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 premises 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.
I am looking into buying my first house which is in Harold Park and I am already nervous. I couldn't find anything specific about Harold Park. Conveyancing will be needed in due course but do you know about the Harold Park area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Harold Park. In the meantime here are some basic statistics that we found
I am using a search engine for the words on line conveyancing in Harold Park it reveals many property lawyersin the vicinity. With so much choice what is the best way to find the right conveyancer for me?
The best method of finding the right conveyancer is through a trusted referral, so ask friends and relatives who have bought a property in Harold Park or the reputable estate agent or financial adviser. Costs for conveyancing in Harold Park vary, so it's advisable to obtain at least four costs illustrations from varying types of law firms. Make sure that you know that the charges are assured not to to be inflated.
I've recently bought a leasehold flat in Harold Park. Am I liable to pay service charges for periods before completion of my purchase?
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. However, 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 ensure 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 am the leaseholder of a ground-floor 1960’s flat in Harold Park. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Harold Park conveyancing firm who can help.
An example of a Lease Extension decision for a Harold Park premises is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The unexpired term was 57.5 years.