A relative advised me that in purchasing a property in The Park there may be various restrictions limiting what one can do in terms of external changes to a property. Is this right?
There are anumerous of properties in The Park which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in The Park should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am planning to move home in February. Does my conveyancing solicitor update the removal company on the completion day. As an aside, can you put forward a removal company in The Park. Conveyancing lawyer was chosen prior to coming across your page.
On the day of completion you can collect the keys from the property agent but this should only take place once the vendors lawyers advise the agent that they have the completion monies and the keys can be given over. After that you should tell the removal men that they can start moving you in. We are not in a position to recommend a particular removal company but can assist you in choosing a residential property solicitor in The Park or a firm that specialises in conveyancing in The Park.
Can you help - my lawyer advises that defective lease insurance is needed on my purchase. What is the level of cover for The Park conveyancing?
The right level of defective lease indemnity insurance should be dictated by who your lender. It would differ for example between National Westminster Bank and Barnsley Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
Is it necessary to pay for insurance to protect me from financial exposure to chancel repairs when acquiring a property in The Park?
Unless a previous purchase of the property completed after 12 October 2013 you may expect conveyancing practitioners delivering conveyancing in The Park to continue to recommend a chancel search and or insurance against a claim.
How does conveyancing in The Park differ for newly converted properties?
Most buyers of new build or newly converted property in The Park contact us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is completed. This is because house builders in The Park tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in The Park or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in The Park before appointing solicitors. I have been told that there is a flying freehold element to the house. My surveyor has said that some lenders may refuse to grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in The Park. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in The Park to see if the conveyancing costs will increase in light of this.
In searching the internet for the term cheap conveyancing in The Park it brings up many property lawyersin the vicinity. With so much choice what is the best way to find the right conveyancing solicitor for my move?
The preferential way of seeking the right conveyancer is via trusted referral, so enquire of friends and those you trust who have acquired a property in The Park or a respected estate agent or mortgage broker. Charges for conveyancing in The Park differ, so it's a good idea to request a minimum of three costs illustrations from varying types of property lawyers. Make sure that you clarify that the fees are fixed.
I would like to sublet my leasehold apartment in The Park. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in The Park do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I own a studio flat in The Park, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in The Park with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease finishes on 21st October 2079
With only 55 years left to run we estimate the premium for your lease extension to range between £31,400 and £36,200 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.