We instructed a Wembley based solicitor for my conveyancing in Wembley last week. Going through the fine print I noteI am liable for fees even if our purchase doesn't happen. Should I go with them or use a web based conveyancing brokerage who offer no-sale-no-fee conveyancing in Wembley?
It is usually ‘give and take’ in that if "No Completion No Fee" is offered then the fee levels will generally be higher to counteract the transactions that do not go ahead. Do bear in mind that these promotions rarely cover disbursements for example Wembley conveyancing search expenses.
What does a local search reveal regarding the house we're buying in Wembley?
Wembley conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company such as PSG The local search plays an important role in most Wembley conveyancing purchase; that is if you don’t want any nasty surprises after you move into your property. The search will reveal information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
four months have gone by since my purchase conveyancing in Wembley concluded. I have checked the Land Registry site 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 residence 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 my first flat in Wembley with a loan from Chelsea Building Society. The sellers would not budge the amount so I negotiated 6k of extras instead. The property agent advised me not to tell my solicitor about the deal as it may adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
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 carried out on a property in Wembley before instructing conveyancers. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some lenders will not grant a loan on a flying freehold property.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. Should you wish to call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Wembley. Conveyancing will be smoother if you use a solicitor in Wembley especially if they are accustomed to such properties in Wembley.
Last September I purchased a leasehold house in Wembley. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Wembley conveyancing firm to act on my behalf?
Most certainly. We are happy to put you in touch with a Wembley conveyancing firm who can help.
An example of a Lease Extension decision for a Wembley property is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case related to 1 flat. The unexpired residue of the current lease was 74 years.