What is the first thing I need to know about purchase conveyancing in Whetstone?
Not many law firms or advisers will tell you this but conveyancing in Whetstone and elsewhere in England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there exists plenty of room for friction between you and others involved in the legal transfer of property. For instance, the seller, selling agent and even potentially your mortgage company. Choosing a solicitor for your conveyancing in Whetstone an important selection as your conveyancer is your adviser, and is the SOLE person in the transaction whose responsibility is to look after your best interests and to keep you safe.
On occasion a potential adversary may attempt to persuade you that you should follow their advice. As an example, the property agent may claim to be assisting by claiming that your lawyer is slow. Or your financial adviser may try to convince you to do take action that is against your solicitors recommendation. You should always trust your lawyer above all other parties in the home moving process.
I have been told that property searches are the main cause of stalling in Whetstone conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Whetstone.
How does conveyancing in Whetstone differ for new build properties?
Most buyers of new build residence in Whetstone approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is finished. This is because builders in Whetstone typically purchase the site, 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 conveyancing solicitors 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 Whetstone or who has acted in the same development.
I am looking for a flat up to £235,500 and identified one round the corner in Whetstone I like with a park and station in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Whetstone in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan that many years may be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
What advice can you give us when it comes to appointing a Whetstone conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Whetstone conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Whetstone conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:
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What volume of lease extensions has the firm conducted in Whetstone in the last twenty four months? What are the legal fees for lease extension work?
Following years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Whetstone. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We can put you in touch with a Whetstone conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Whetstone premises is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case was in relation to 1 flat. The unexpired term as at the valuation date was 76 years.
I am considering instructing an online conveyancer ahead of a Whetstone conveyancing firm. Any advice?
Numerous benefits exist in being able to attend a local Whetstone conveyancing solicitor for example
- signing documents same day
- getting one on one explanations of issues you don't understand
- the ability to raise concerns if matters need to addressed
When analysing fees, look carefully for hidden extras. Most decent Whetstone high street solicitors give an all-inclusive price. Often online agents seem to offer low cost prices, but have hidden 'extras' in the fine print.