I plan on acquiring a ground floor flat in Park Hill. My property lawyer is not listed on the mortgage company approved list. Am I still permitted to appoint my Park Hill conveyancing solicitor notwithstanding that they are excluded from the bank approved list?
You have a number of options open to you here
- Complete the purchase with your chosen Park Hill conveyancer but your bank will undoubtedly retain a lawyer on their approved list. This will result in additional cost and potential delay.
- Choose a new conveyancer to conduct the conveyancing, ensuring that they are on the mortgage company conveyancing panel.
- Convince your property lawyer to attempt to join the lender panel
Having sold my house in Park Hill last May but our buyer keeps SMS messaging me complaining that their conveyancer needs to hear from mine. What should have happened now that I have sold?
After completion of your house sale your conveyancer is committed to deliver the transfer deeds and all supplemental paperwork to the purchaser's lawyers. Where relevant, your lawyer must also confirm that the legal charge in favour of the lender has been paid off to the buyers lawyers. There is unlikely to be post completion procedures specific conveyancing in Park Hill.
Will my solicitor be raising questions concerning flooding as part of the conveyancing in Park Hill.
Flooding is a growing risk for solicitors carrying out conveyancing in Park Hill. There are those who acquire a property in Park Hill, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, however there are a numerous searches that can be initiated by the buyer or on a buyer’s behalf which should figure out the risks in Park Hill. The standard property information forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual question of the vendor to discover whether the premises has suffered from flooding. If the premises has been flooded in past and is not revealed by the owner, then a purchaser could bring a compensation claim resulting from an incorrect response. The purchaser’s lawyers may also order an enviro search. This should reveal if there is any known flood risk. If so, more detailed investigations should be made.
How does conveyancing in Park Hill differ for newly converted properties?
Most buyers of new build or newly converted property in Park Hill approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is completed. This is because builders in Park Hill usually buy the land, 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 accustomed to new build conveyancing in Park Hill or who has acted in the same development.
I decided to have a survey done on a property in Park Hill ahead of instructing conveyancers. I have been told that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies tend refuse to give a mortgage on such a home.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. If you contact us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Park Hill. Conveyancing may be slightly more expensive based on your lender's requirements.
Back In 2003, I bought a leasehold house in Park Hill. Conveyancing and Virgin Money mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Park Hill who previously acted has long since retired. Do I pay?
First contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Park Hill conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Park Hill Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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Is anyone aware of any major works anticipated that will increase the maintenance charges? Is the freehold reversion owned jointly by the leaseholders? What is the service charge and ground rent on the property?