Can you explain why leasehold purchase conveyancing in Ickenham costs more?
In short, leasehold conveyancing in Ickenham and West London usually warrants extra hours of investigation compared to freehold transactions. This includes lease investigation, liaising with the landlord concerning serving appropriate notices, procuring current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
Please explain the implications if my solicitor is suspended from the Barclays Conveyancing panel ahead of completing my conveyancing in Ickenham?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
When it comes to mortgage companies such as Co-operative, do Ickenham conveyancing practitioners face a fee to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I am selling my apartment. I had a double glazing fitted in February 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, HSBC are being difficult. The Ickenham solicitor who is on the HSBC conveyancing panel is saying indemnity insurance will be fine but HSBC are insisting on a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
At last I have had an offer on an apartment in Ickenham accepted, the owners do however have a connected purchase. The owners have placed an offer on somewhere, however it’s not been accepted yet, and are looking at other properties booked. I have chosen a nearby conveyancing solicitor in Ickenham. What should be my next step? At what stage do I apply for the mortgage with Aldermore?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is approx one thousand pounds, then survey, Ickenham conveyancing search costs, etc). The first course of action is to check that your conveyancing practitioner is on the Aldermore approved list. Regarding the next phase this very much dictated by the uniqueness of your case, motivation for this property and on the state of the market. During a hot market the majority of buyers will apply for the mortgage with Aldermore and pay for the valuation and only if it comes back ok would they request their conveyancer to proceed with the conveyancing in Ickenham.
We're first time buyers - agreed a price, but the property agent told us that the seller will only proceed if we appoint their preferred conveyancers as they need a ‘quick sale’. We would rather use a local conveyancer with experience of conveyancing in Ickenham
It is highly unlikely the vendors are driving this. If they require ‘a quick sale', turning down a genuine purchaser is likely to cause more damage than good. Bypass the agents and go straight to the owners and make sure they understand (a)you are serious buyers (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you will continue to instruct your own,trusted Ickenham conveyancing solicitors - rather thanthe ones that will give their negotiator at the agency a commission or meet his conveyancing targets set by head office.
Completion is due on our sale of a £350,000 maisonette in Ickenham in just under a week. The management company has quoted £336 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Ickenham?
Ickenham conveyancing on leasehold flats often necessitates the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be content to do so. They are at liberty to levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, without which the charge is technically not due. In reality you have little choice but to pay whatever is demanded if you want to sell the property.
We have reached the end of our tether in trying to reach an agreement for a lease extension in Ickenham. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to judgment on the price payable.
An example of a Lease Extension matter before the tribunal for a Ickenham residence is Flat 72 Queens Walk in January 2013. The Tribunals calculated the premium payable to be £22,090. This case affected 1 flat. The unexpired lease term was 53.26 years.
I am short of a 10% deposit on my house purchase in Ickenham , but I still want to exchange. What can I do?
You can accept a smaller deposit. Many property owners will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment