I have given 8 weeks notice to my existing landlord and must be out of my let out flat in Wembley by the end of next month. Conveyancing on my purchase has just started. How realistic is it to complete in a couple of weeks as don't want to have to move into short term accommodation?
The normal practice is not to give notice on a rental unless you have exchanged. If you have not previously done so, notify to your solicitor and urge them to they apply pressure on the owners side, try to an agreed time frame that everyone will look to achieve
I have an AIP. The lender mentioned the home loan came with free conveyancing. Does this mean I have to appoint their panel conveyancer as I would prefer to appoint a high street conveyancing solicitor in Wembley?
Do check but the chances are that give you one of their panel conveyancers where you accept the "fee-free" deal. Call the bank and check if they make available a monetary alternative. Some mortgage companies have previously offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor near Wembley.
It has been 4 months since my purchase conveyancing in Wembley took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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 asset 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.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Wembley is the location of the property. Can you shed any light on this issue?
Flying freeholds in Wembley are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wembley you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wembley may determine 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 residence.
I've recently bought 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. It is an essential part 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).
After years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Wembley. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to determine the premium.
An example of a Lease Extension decision for a Wembley residence 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.
My nephew is about to join the property ladder, the home loan was agreed last week in principle. One the seller agreed the offer on the apartment we rang the mortgage institution to issue the formal offer. I was shocked to learn that mortgage lenders do not accept all conveyancing practitioner, they need to be on their approved list, is this legal?
Banks ordinarily restrict either the type or the number of conveyancing practices on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Wembley conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.