The vendors of the home we are purchasing hired a conveyancing firm in Hyde Park who has suggested a preliminary contract with a down payment two thousand pounds. Are such arrangements the norm for Hyde Park conveyancing transactions?
There are a couple of primary concerns with executing a lock out agreement (also known as a no-shop agreement) is that it takes away the focus from making progress with the conveyancing transaction itself, so unless it requires little or no negotiation then it may transpire to be a cause of frustration and delay. It is not particularly popular by Hyde Park conveyancing practitioners for this reason. A further negative is the extent of the remedies available - a jilted purchaser is not likely to be granted an injunction to prevent the vendor disposing of the property to another buyer, so the only remedy open via the contract will be the recovery of wasted costs and, in rare situations, the additional payment of damages.
2 months have elapsed since my purchase conveyancing in Hyde Park completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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 property 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.
Due to the advice of my in-laws I had a survey completed on a property in Hyde Park in advance of retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some banks will not grant a loan on a flying freehold home.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Hyde Park. Conveyancing will be smoother if you use a solicitor in Hyde Park especially if they are acquainted with such properties in Hyde Park.
In what way does the Landlord & Tenant Act 1954 affect my business premises in Hyde Park and how can you help?
The 1954 Act affords security of tenure to business leaseholders, granting the legal entitlement to apply to court for a continuation of occupancy at the end of the lease term. There are limited grounds that a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Hyde Park is one of the numerous areas of the UK in which our lawyers are based
I need to retain a conveyancing solicitor for remortgage conveyancing in Hyde Park. I have stumble across a web site which looks to be the perfect solution If it is possible to get all formalities completed via email that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
If all goes to plan we aim to complete the sale of our £200,000 maisonette in Hyde Park in just under a week. The managing agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Hyde Park?
Hyde Park conveyancing on leasehold flats normally involves the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be willing to do so. They are entitled to charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some cases it is in excess of £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality one has little option but to pay whatever is demanded should you wish to sell the property.
Leasehold Conveyancing in Hyde Park - Sample of Questions you should consider before Purchasing
The answer will be important as a) areas may cause problems in the block as the communal areas may begin to deteriorate where repairs are not paid for b) if the leaseholders have a dispute with the managing agents you will need to have complete disclosure Are any of leasehold owners in arrears of their service charge payments? It would be a good idea to discover if there are any onerous prohibitions in the lease. For example some leases prohibit pets being allowed in certain buildings in Hyde Park. If you love the apartmentin Hyde Park but your cat is not allowed to move with you then you will be faced difficult choice.