My wife and I are hoping to buy a house in Park Royal and have instructed a Park Royal conveyancing firm. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Aldermore have this afternoon contacted us to advise us that there is now an issue as our Park Royal lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Park Royal lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
A colleague suggested that where I am buying in Park Royal I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Park Royal conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Park Royal around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Park Royal Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Park Royal Education with maps and statistics, Local Amenities and other useful information about Park Royal.
Just bought a semi-detached house in Park Royal , What is the estimated time for the Land Registry to record the transfer to my name? My Park Royal conveyancing solicitor works at snail pace, so I want to be certain the registration formalities are concluded.
As far as conveyancing in Park Royal registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can vary according to the party submitting the application, whether there are errors and if the Land registry need to notify any interested parties. As of today approximately three quarters of such applications are fully addressed in less than three weeks but some can be subject to extensive hold-ups. Registration occurs once the buyer has moved in to the property therefore registration formalities is not usually top priority yet where it is urgent that the the registration takes place urgently then you or your lawyers can communicate with the Registry to express the reasoning for the application to be prioritised.
I'm buying my first flat in Park Royal benefiting from help to buy. The builders would not budge the price so I negotiated five thousand pounds worth of extras instead. The sale representative suggested that I not inform my lawyer about this deal as it could jeopardize my mortgage with Virgin Money. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
We are four weeks into a leasehold purchase having been referred to solicitors by the high street agent to handle our conveyancing in Park Royal. I am am extremely frustrated with the quality of service. Can you help me find new conveyancers?
A lawyer would have to be very poor to suggest changing them. Has your mortgage been sent? In the event that it has you must inform them of the replacement solicitor and get the offer are re-sent. Your solicitor ideally needs to be on the mortgage company panel to avoid supplemental costs and complications. That should be your first question of the new lawyers. The find a solicitor tool will help you find a bank approved lawyer for your conveyancing in Park Royal
I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Park Royal. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
The majority of houses in Park Royal are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Park Royal so you should seriously consider shopping around for a Park Royal conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should appraise you on the various issues.
Following months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Park Royal. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Park Royal conveyancing firm who can help.
An example of a Lease Extension case for a Park Royal premises is 99 Connell Crescent in May 2013. the Tribunal held that the relevant sum for the purposes of the lease extension should be £72,566 to be paid by the leaseholder This case was in relation to 1 flat. The unexpired lease term was 28.42 years.