At what point will exchange of contracts take place for residential conveyancing in Acton and do I need to be at the lawyers branch?
If you are in close proximity to one of the conveyancing solicitors in Acton you are invited in to sign the paperwork. However, the lender approved solicitors we work with offer countrywide coverage for conveyancing and provide just as diligent and professional a job for you when communicating with you electronically. The signing of the contract is not the point of no return. A signed contract is necessary for the firm to officially exchange at the appropriate time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Acton)to be in the office available at the end of the phone to exchange contracts.
I'm purchasing my first flat in Acton benefiting from help to buy. The sellers refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not inform my solicitor about this extras as it may adversely affect my loan with Santander. Is this normal?.
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 opted to have a survey carried out on a property in Acton ahead of appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some lenders will not grant a loan on such a property.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Acton. Conveyancing will be smoother if you use a solicitor in Acton especially if they are familiar with such properties in Acton.
In my capacity as executor for the will of my uncle I am disposing of a residence in Swansea but live in Acton. My lawyer (who is 260 kilometers awayrequires that I execute a stat dec before completion. Could you suggest a conveyancing practitioner in Acton to witness and place their company stamp on the document?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are located in Acton
I own a ground flat in Acton. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
Absolutely. We are happy to put you in touch with a Acton conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Acton property is 4 Woodhurst Road in July 2013. The Tribunals valuation for the premium to be paid in respect of the collective enfranchisement was £51,050. This case related to 2 flats. The unexpired term was 63.75 years.
Are there frequently found problems that you come across in leases for Acton properties?
There is nothing unique about leasehold conveyancing in Acton. All leases are unique and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts. A provision to repair to or maintain parts of the premises
You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, The Royal Bank of Scotland, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.
Our mortgage broker has recommended their property lawyer for the conveyancing in Acton - Surely it’s better to just use them?
This is not necessarily the case and you are entitled to use whichever solicitor of your choosing for your Acton home move. The lawyer put forward by a 3rd party adviser may not always be the best lawyer, they may recommend their own conveyancing firm who are based remotely. In this instance you may not have contact with your conveyancing practitioner and due to the lack of continuity in the transaction, it may be difficult to obtain updates.