Please could you vouch for a Norwich and Peterborough Building Society approved Hyde Park conveyancing firm who can have us moved in within a short deadline? Would it be better to use a high street Hyde Park solicitor or a factory type comparison site?
We can recommend some very good Hyde Park conveyancing firms. Another option is to visit the main road in Hyde Park. Approach two or three law practices and request to speak with a conveyancing solicitor for a quote. Discuss your time frames together with your reasons and get an assurance on speed. Select the lawyer that genuine.
What happens if my lawyer’s firm is suspended from the Yorkshire BS Solicitor panel ahead of completing my conveyancing in Hyde Park?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
How does conveyancing in Hyde Park differ for new build properties?
Most buyers of new build premises in Hyde Park approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in Hyde Park typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Hyde Park or who has acted in the same development.
I'm refinancing my existing property to a BTL mortgage with Alliance & Leicester and I will use the rest of the raised equity towards another house. The neighborhood we are talking about is Hyde Park. Will your solicitors be able to act for both sets of mortgage companies and tie in the transactions?
Make use of our comparison tool on this site to ensure that the solicitors are approved by both banks. On the basis that they are your lawyer should be able to tie up the two transactions but you should talk with you lawyer and communicate your desired outcome and needs.
I am a negotiator for a reputable estate agency in Hyde Park where we have experienced a few leasehold sales derailed due to short leases. I have received conflicting advice from local Hyde Park conveyancing firms. Could you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner 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. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.
Hyde Park Leasehold Conveyancing - A selection of Queries Prior to buying
-
Be sure to enquire if the the lease contains any unreasonable restrictions in the lease. For instance it is very common in Hyde Park leases that pets are not permitted in certain buildings in Hyde Park. If you love the flatin Hyde Park yet your dog is not allowed to make the move with you then you will be presented with a hard compromise. Does the lease contain onerous restrictions? How much is the annual maintenance fee and ground rent?
Developers have put forward a solicitor and I've sought an estimate from them. They are nearly £250 less expensive than my own Hyde Park property lawyer. Should I use them?
Builders frequently have panels of conveyancing practitioners who expedite matters and who know the developer’s documentation and conveyancing practitioner. As many developers offer an incentive to use a preferred conveyancer for this reason, any increased cost can be avoided and a builder will not put forward a conveyancing factory and run the risk of having the transaction delayed when they need an exchange inside a month. A counter-argument for not opting for the suggested lawyer is that they may be reluctant to 'push' your interests for fear of alienating the sellers. If you worry that this may be the case you should stick with your local Hyde Park solicitor.