I went with a high street firm for our conveyancing in Paddington today. Going through the Ts and Cs I noteI am responsible for fees even if the dealdoes not proceed. Would I be best advised to select an on-line conveyancing company promoting no completion no cost conveyancing in Paddington?
It is usually ‘give and take’ in that if "No Completion No Fee" is advertised then the conveyancing charges will tend to be be more expensive to cover those conveyances that do not go ahead. Please beware that these offerings rarely cover outlay such your Paddington conveyancing search charges.
I am considering mortgaging my apartment in Paddington, does my lawyer need to be on the Virgin Money Conveyancing panel?
In theory, you could use a solicitor that is not on the Virgin Money conveyancing panel, but Virgin Money would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
My partner and I are selling our home in Paddington and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any high street Paddington conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed a nationwide conveyancing firm as opposed to a conveyancing solicitor in Paddington. Having lived in Paddington for three years we know that this is a non issue. Do we get in touch with our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
The estate agent has sent us the confirmation of our purchase of a new build apartment in Paddington. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Paddington
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants.
I am looking for a flat up to £195,000 and identified one round the corner in Paddington I like with a park and transport links nearby, however it only has 52 years unexpired on the lease. There is not much else in Paddington for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
Do I need to be wary that brokers that I am dealing with are suggesting a factory type conveyancing firm as opposed to a High Street Paddington conveyancing practice?
As is the case with many professional services, often suggestions from family and friends can be extremely useful or valuable. But there are many people with a vested interest in a conveyancing deal; estate agents, financial adviser and lenders may recommend solicitors to choose. Sometimes these conveyancers might be known to one of the organisations as being good in their field, but sometimes there exists a commercial relationship behind the endorsement. You are free to choose your own lawyer. However, bear in mind that some mortgage providers specify a panel list of law firms you must use for the lender aspect of your conveyancing.