Is there a reason why leasehold purchase conveyancing in Ravenscourt Park costs more?
In short, leasehold conveyancing in Ravenscourt Park and elsewhere usually involve more work compared to freehold conveyancing. This includes reviewing the lease, corresponding with the landlord about the service of required notices, securing current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first granted.
Please explain the implications if my solicitor is suspended from the Leeds Building Society Conveyancing panel ahead of completing my conveyancing in Ravenscourt Park?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
It has been three months following my purchase conveyancing in Ravenscourt Park completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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 premises 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 have been on the look out for a flat up to £305k and found one near me in Ravenscourt Park I like with open areas and transport links in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Ravenscourt Park in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage that many years will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
In my capacity as executor for the will of my uncle I am selling a house in Monmouth but live in Ravenscourt Park. My solicitor (based 300 miles awayhas requested that I execute a stat dec prior to completion. Could you suggest a conveyancing practitioner in Ravenscourt Park to witness and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are Ravenscourt Park based
We have instructed a Ravenscourt Park conveyancing solicitor for our home move (first time buyers) and have noticed in the engagement letter that they are not governed by the FCA. Need I be worried or is that the norm with conveyancing practitioner?
We can't see why they should be. Most lawyer don't lend money. They will be regulated by the Solicitors Regulation Authority, who have stringent obligations covering monies held by them.