The sellers of the home we are hoping to buy have instructed a conveyancing solicitor in Park Royal who has suggested a exclusivity contract with a payment of 5k. Are such agreements sensible?
There are two primary concerns with executing a lock out agreement (also termed a shut-out contract) is that it diverts attention away from moving forward with the conveyancing process, so in the absence of it needing minimal or no negotiation then it could transpire to be a hindrance. It is not strongly advocated amongst Park Royal conveyancing lawyers as a result. A supplemental negative is the extent of the remedies available - an aggrieved purchaser is very unlikely to be issued with an injunctive ruling by a court to stop the seller completing the sale to a third party, so the only remedy open via the agreement will be the reimbursement of wasted costs and, in limited situations, the additional payment of penalties.
I am helping my mother sell her property in Park Royal. Does the conveyancing solicitor arrange the energy performance certificate or it is for the owner to coordinate?
After the abolition of Home Packs, energy performance certificates was left as a compulsory part of moving house. An energy assessment must be to hand prior to the property being marketed. It is not a task that law firms ordinarily organise. If you are instructing a Park Royal conveyancing lawyer they might help arrange energy assessments due to their contacts with reputable local assessors
I'm the sole beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Park Royal. The Park Royal property was put into my name in January. I want to move. I do know about the CML 6 month 'rule', meaning my proprietorship could be regarded the same way as though I had purchased the house in January. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges 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 could be impacted by that. Some banks would take a sensible view as this clause is primarily there to capture subsales or the quick reselling of properties.
My offer was accepted on an apartment in Park Royal on 29/12/2025, valuation was booked 3 days later, all came back fine. Solicitor appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to RBS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the RBS conveyancing panel. Are RBS entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I require expedited conveyancing in Park Royal as I am faced with an ultimatum to exchange contracts in less than one month. A home loan is not required. Is it possible to escape the need for conveyancing searches to save money and time?
If.Given you are are a mortgage free buyer you are at liberty not to have searches carried out although no solicitor would advise that you don't. Drawing on years of experience of conveyancing in Park Royal the following are instances of what can arise and therefore impact future mortgageability: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Unadopted Roads,...
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one near me in Park Royal I like with amenity areas and station in the vicinity, the downside is that it's only got 49 years on the lease. I can't really find anything else in Park Royal suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage that many years will likely be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
Looking forward to sign contracts shortly on a leasehold property in Park Royal. Conveyancing lawyers assured me that they report fully next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Park Royal should include some of the following:
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The physical ownership of the property. This may be the property itself but could also incorporate a roof area or basement if relevant. Do you need to have carpet in the flat or are you allowed wood flooring? What the implications are if you have breached the provisions of the lease? You should have a good understanding of the insurance obligations What you can do if a neighbour is in violation of a provision in their lease?
After years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Park Royal. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. 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 residence 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 affected 1 flat. The unexpired term was 28.42 years.
Why is it not possible to complete my conveyancing in Park Royal on Easter Monday?
This is due to the fact that on completion the funds needs to be transferred electronically between the banks of the purchaser and owner’s conveyancing practitioner and at present this can only take place on a working day. So you can't complete on a saturday or sunday either.