Forgive me if this question is silly but I am new to the home buying as FTB of a ground floor flat in West Drayton. Do I pick up the keys to the premises on completion from my solicitor? If this is the case, I will appoint a High Street conveyancing solicitor in West Drayton?
On the day of completion you will not be required to attend the conveyancers office in West Drayton. Conveyancing lawyers for you will transfer the completion advance to the vendor’s lawyers, and once they have received this, you will be invited to receive the keys from the selling Agents and start moving into the property. Usually this happens between 1 and 3pm.
When it comes to mortgage companies such as Co-operative, do West Drayton conveyancers incur an annual charge to be on the list of approved solicitors?
We are unaware of any bank fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
is it true that all West Drayton conveyancing solicitors on the RBS conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the RBS conveyancing panel they would need to be overseen by the SRA. The majority of mortgage companies do list licenced conveyancers on their panel and in such a situation the organisation would be overseen by the Council of Licensed Conveyancers.
Just acquired a terraced house in West Drayton , how long will it take for the Land Registry to record my title? My West Drayton conveyancing solicitor has been painfully slow, so I want to be certain that my name is registered.
As far as conveyancing in West Drayton registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timeframes can vary subject to who lodges the application, whether there are errors and if the Land registry communicate with any third parties. Currently roughly 80% of such applications are completed within 12 days but occasionally there can be extensive hold-ups. Registration takes place once the purchaser is living at the property so 'speed' is not always top priority yet where there is a degree of urgency associated with the registration then you or your conveyancer could communicate with the Registry to express the reasoning for the application to be prioritised.
I'm buying my first flat in West Drayton with a loan from Leeds Building Society. The builders refused to budge the price so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not inform my lawyer about the deal as it will jeopardize my mortgage with Leeds Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. West Drayton is the location of the property. Is there any guidance you can give?
Flying freeholds in West Drayton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside West Drayton you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in West Drayton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am looking into buying my first house which is in West Drayton and I am already nervous. I couldn't find anything specific about West Drayton. Conveyancing will be needed in due course but do you know about the West Drayton area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at West Drayton. In the meantime here are some basic statistics that we found
I am looking at a couple of flats in West Drayton both have in the region of fifty years left on the lease term. Will this present a problem?
There are no two ways about it. A leasehold flat in West Drayton is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of purchasers and banks, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with West Drayton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I own a ground flat in West Drayton. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to arrive at the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a West Drayton property is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case affected 2 flats. The unexpired term as at the valuation date was 69 years.