I opted for a local firm for our conveyancing in Hyde Park recently. Upon checking the terms of engagement I seewe are responsible for costs even if the dealfalls through. Should I go with them or instruct an on-line firm promoting no move no charge conveyancing in Hyde Park?
Generally there is a concession along the lines that if "No Sale No Fee" is advertised then the conveyancing charges will generally be higher to neutralise those cases that do not proceed. You should be mindful that such deals tend not to cover expenses e.g. Hyde Park conveyancing search charges.
Do I have to have a meeting at the offices of the solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Hyde Park so that I can attend their offices if required.
Whereas this was necessary 15 years ago, most banks no longer oblige their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to provide ID documents and there are still manifest benefits to instructing a local solicitor, in your case a conveyancing solicitor in Hyde Park.
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when acquiring a residence in Hyde Park?
Unless a previous acquisition of the property took place post 12 October 2013 you could expect lawyers carrying out conveyancing in Hyde Park to continue to propose a a chancel search and or chancel repair liability insurance.
I opted to have a survey carried out on a house in Hyde Park in advance of appointing lawyers. I have been advised that there is a flying freehold aspect to the property. The surveyor has said that some lenders tend refuse to give a loan on a flying freehold house.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hyde Park. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hyde Park to see if the conveyancing costs will increase in light of this.
I work for a long established estate agent office in Hyde Park where we have experienced a number of leasehold sales derailed as a result of short leases. I have been given conflicting advice from local Hyde Park conveyancing firms. Please can you shed some light as to whether the owner of a flat can commence the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Hyde Park Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
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Plenty Hyde Park leasehold apartments will incur a service charge for maintenance of the building levied on behalf of the freeholder. Where you purchase the property you will have to meet this liability, normally quarterly accross the year. This could differ from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a rentcharge for you to pay yearly, normally this is not a large amount, say around £25-£75 but you need to check as on occasion it could be many hundreds of pounds. Are there any major works in the planning that will add a premium to the maintenance fees? The prefered form of lease structure is if the freehold interest is owned by the leaseholders. In this scenario the lessees benefit from being in charge if their destiny and although a managing agent is frequently retained if it is larger than a house conversion, the managing agent is directed by the tenants.
Is there a difference between surveying and conveyancing in Hyde Park?
Conveyancing - in Hyde Park or anywhere in England and Wales - is the process of legally transferring legal title of property from one person to another. It involves the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re purchasing and will help you find out about the condition of the building and, if there are problems, give you leverage for negotiating the buying price down or asking the seller to fix the defects prior to you complete your move.