I chose a local solicitor for my conveyancing in Wembley Park last week. Reviewing the fine print I notewe are responsible for costs even if our purchase doesn't happen. Should I go with them or instruct a web based solicitor practice who offer no completion no charge conveyancing in Wembley Park?
It is usually a trade off in that if "No Completion No Fee" is offered then the conveyancing charges will generally be more expensive to neutralise those transactions that do not proceed. Do bear in mind that these deals tend not to cover expenses for instance Wembley Park conveyancing search costs.
My solicitor has discovered a a problem with the lease for the flat we are buying in Wembley Park. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will pay for it. Our property lawyer has advised that he must be satisfied that the mortgage company is content with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I purchased a freehold residence in Wembley Park yet charged rent, why is this and what is this?
It’s unusual for properties in Wembley Park and has limited impact for conveyancing in Wembley Park but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
There are a variety of conveyancing solicitors in Wembley Park but how do I know who I should use?
It would be unwise to be seduced by the cheapest Wembley Park conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
My aunt advised me that in purchasing a property in Wembley Park there could be various restrictions affecting the ability to carry out external alterations to a property. Is this right?
We are aware of a number of properties in Wembley Park which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Wembley Park should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am expecting a AIP from Barclays this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Barclays recommend any Wembley Park solicitors on the Barclays conveyancing panel, or is it better to go independently?
You will need to appoint Wembley Park solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.
A relative recommended that where I am buying in Wembley Park I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Wembley Park conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Wembley Park around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Wembley Park Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information about Wembley Park.
I decided to have a survey carried out on a house in Wembley Park ahead of retaining conveyancers. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some banks tend not grant a mortgage on such a house.
It depends who your proposed lender is. Santander has different requirements from Birmingham Midshires. If you contact us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Wembley Park. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Wembley Park to see if the conveyancing will be more expensive.