AssumingI were to purchase a freehold propertyin Northwick Park mortgage fee and dispense with a survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Northwick Park?
The only saving you would make on is the Northwick Park conveyancing searches. Your conveyancing practitioner is required to do the vast majority of work - money laundering, liaising with your vendors solicitor, stamp duty return, register the property etc. A slight saving might be made by not having to register a mortgage however it won't be a lot.
I happen to be the only beneficiary of my late grandmother’s will and I have everything in my name alone, including the my former home in Northwick Park. The Northwick Park property was put into my name in December. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership could be treated the same way as though I had purchased the house in December. Do I have to wait half a year to sell?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. How sensible a view banks take of it, depend on the mortgage company as this clause chiefly exists to pick up on subsales or the quick reselling of properties.
Can I be sure that the Northwick Park conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Northwick Park getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the lawyer handling your transaction.
We have agreed to purchase a house in Northwick Park. An unusual aspect is that the roof has a solar panel. Nationwide have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Nationwide your lawyer must comply with the formal instructions set out in Part two of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook sets out minimum conditions for solar panel roof-space leases, and solicitors are required to report to Nationwide where a lease does not satisfy these conditions. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Northwick Park.
Will our solicitor be making enquiries regarding flooding as part of the conveyancing in Northwick Park.
Flooding is a growing risk for solicitors conducting conveyancing in Northwick Park. There are those who purchase a house in Northwick Park, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Solicitors are not best placed to impart advice on flood risk, but there are a number of searches that can be undertaken by the buyer or by their solicitors which will give them a better understanding of the risks in Northwick Park. The standard information sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the vendor to determine whether the premises has ever been flooded. In the event that flooding has previously occurred which is not revealed by the vendor, then a buyer may bring a legal claim for losses resulting from an inaccurate answer. A purchaser’s lawyers should also order an enviro report. This will higlight whether there is any known flood risk. If so, further inquiries will need to be initiated.
We're FTB’s - had an offer accepted, but the agent told us that the seller will only go ahead if we use the agent's preferred solicitors as they are insisting on a ‘quick sale’. My instinct tells me that we should use a high street conveyancer with experience of conveyancing in Northwick Park
It is improbable the owners are driving this. Should the owner desire ‘a quick sale', turning down a motivated buyer is going to damage their objectives. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you are going to use your preferred Northwick Park conveyancing lawyers - not the ones that will provide the estate agent a referral fee or achieve conveyancing thresholds demanded by head office.
Last September I purchased a leasehold property in Northwick Park. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee 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 have had difficulty in trying to purchase the freehold in Northwick Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Northwick Park conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Northwick Park flat is Ground Floor Flat 17 Frognal Avenue in April 2012. the Tribunal agreed that a value of £160,000 for the extended lease was appropriate. This case affected 1 flat. The unexpired residue of the current lease was 61.66 years.
Two months into a sale of a flat in Northwick Park. Conveyancing is fine but we are being charged a fortune by the managing agents. So far we have paid £275 for a leasehold management information and then a further £117.20 for additional questions supplied by the purchaser's conveyancing practitioner.
You will not have any say over the level of the bill for this information however the typical fee for the information for Northwick Park leasehold property is £350. For Northwick Park conveyancing transactions it is usual for the seller to pay for these costs. The landlord or their agents are under no statutory obligation to address such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no statute that requires capped charges for administrative tasks. There is no set time frame by which they are obliged to issue the information.