I am buying a new build flat in Highams Park. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Highams Park you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Highams Park.
Various internet forums that I have come across warn that are the primary cause of stalling in Highams Park house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Highams Park.
How does conveyancing in Highams Park differ for new build properties?
Most buyers of new build residence in Highams Park come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Highams Park usually buy 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 used to new build conveyancing in Highams Park or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a house in Highams Park before appointing lawyers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some banks tend refuse to issue a mortgage on such a property.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Highams Park. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Highams Park to see if the conveyancing will be more expensive.
Am I best advised to choose a Highams Park conveyancing lawyer based in the vicinity that I am hoping to buy? I have an old university friend who can carry out the legal formalities however they are based over three hundred miles drive away.
The primary upside of using a high street Highams Park conveyancing practice is that you can attend the office to execute documents, hand in your identification documents and pester them if necessary. They will also have local intelligence which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and on the whole were impressed that should surpass using an unknown Highams Park conveyancing lawyer solely due to them being based in the area.
I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Highams Park. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Highams Park ?
The majority of houses in Highams Park are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Highams Park so you should seriously consider looking for a Highams Park conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Highams Park conveyancing firm to help?
if there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the premium.
An example of a Freehold Enfranchisement decision for a Highams Park premises is 48 Greenleaf Road in December 2009. the lessees sought to exercise their right to purchase the freehold from the landlord by way of collective enfranchisement in accordance with the Leasehold Reform Housing and Urban Development Act 1993.The landlord could not be found.A vesting order was granted from the Bow County Court on 10 September 2007 (Claim No: 8BO04141). The Tribunal held that the premium to be paid was £3,850 This case related to 2 flats. The unexpired lease term was 104 years.