I require conveyancing for a flat in a relatively new development (five years old) in Paddington. Almost all the appartments are already disposed of. Do I need carry out the conveyancing searches as part of conveyancing in Paddington?
Where you are obtaining a mortgage, your mortgage company will require some (many) of the searches so you'll have no choice. If not, then Paddington conveyancing searches are optional. No doubt your conveyancer, will 'advise', perhaps strongly, that you should not go ahead without searches, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you insist that your lawyer to proceed without searches then your lawyer will have to follow your instructions or you will need to change to another solicitor for your conveyancing in Paddington.
I have an AIP. The bank mentioned the mortgage came with free conveyancing. Does this mean I have to appoint their panel lawyer as I would prefer to appoint a local conveyancing solicitor in Paddington?
Do check but the chances are that appoint one of their panel conveyancers if you want the "fee-free" incentive. Contact the mortgage company and explore if they offer you a monetary alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Paddington.
I just acquired a property at auction in Paddington. Conveyancing is required. What is next?
Now that you have for all intents and purposes signed on the dotted line you must retain a conveyancing solicitor soon as you now have a fast approaching deadline in which to complete the transaction. Every auction property will ordinarily have an associated legal set of papers. This should include evidence of title and search results. If you have purchased leasehold premises the legal papers may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You need to pass this on to your appointed conveyancing solicitor ASAP. Do make sure that your finances are in order to complete on the on the contractual date .
We were going to get a OIP from Barclays this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Barclays recommend any Paddington solicitors on the Barclays conveyancing panel, or is it better to go independently?
You will need to appoint Paddington solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Paddington building society branch on various occasions and was advised it wasn't an issue and they would lend. My Paddington conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they would not lend in accordance with their specific requirements. Who do I believe?
Your conveyancer must follow the Council of Mortgage Lenders’ Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
What does a local search inform me about the property we're buying in Paddington?
Paddington conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations for instance Searchflow The local search is essential in every Paddington conveyancing purchase; as long as you don’t want any nasty once you have moved into your new home. The search will supply data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
The deeds to our property are lost. The lawyers who dealt with the conveyancing in Paddington 4 years ago have long since closed. Will I be able to sell the house?
As long as the title is registered the details of your proprietorship will be held by HMLR with a Title Number. It is possible to conduct a search at the Land Registry, locate your property and obtain current copies of the property title for less than a fiver. If the title is Leasehold then the Land Registry will usually retain a file copy of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
I am buying a new build flat in Paddington. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Paddington
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan.