We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to appoint their panel conveyancer as I would prefer to instruct a high street conveyancing solicitor in Paddington?
Do check but the chances are that give you one of their panel lawyers if you take up the "fee-free" incentive. Speak to the lender to see if they make available a cash alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Paddington.
We are downsizing from our house in Paddington and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any local lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed a nationwide conveyancing practice as opposed to a conveyancing solicitor in Paddington. Having lived in Paddington for many years we know that this is a non issue. Should we contact our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You need to check with 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 illness)
It has been four months following my purchase conveyancing in Paddington took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. 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 asset 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 purchasing a new build house in Paddington with a mortgage from Alliance & Leicester . The sellers would not budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not disclose to my lawyer about this extras as it would impact my loan with Alliance & Leicester . Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey completed on a house in Paddington in advance of retaining lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies may not give a mortgage on such a home.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Paddington. Conveyancing may be slightly more expensive based on your lender's requirements.
If all goes to plan we aim to complete our sale of a £150,000 flat in Paddington in seven days. The landlords agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Paddington?
Paddington conveyancing on leasehold maisonettes usually necessitates the buyer’s solicitor sending questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to assist. They are entitled to invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge demanded by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is technically not due. In reality you have no option but to pay whatever is demanded should you wish to sell the property.
I am the leaseholder of a ground-floor 1960’s flat in Paddington. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
Most definitely. We are happy to put you in touch with a Paddington conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Paddington premises is Flats 37 & 39 88/90 Portland Place in December 2010. The Tribunal determined that the premium payable for the lease extensions in respect of these two flats is as follows:- For Flat 37, the sum of £385,230.00 For Flat 39, the sum of £436,780.00 This case related to 2 flats. The unexpired term as at the valuation date was 24.02 years.