Recently contacted my conveyancing solicitor in Park Royal who conducted the legals 18 months ago asking for a conveyancing costs illustration based on the same type of house sale & purchase (a leasehold residence and a freehold property) of similar values with a mortgage from Lloyds TSB Bank. It looks as though am now being charged twice the amount. Should I look for a cheaper internet firm of conveyancing solicitor?
The estimate does seem a little on the high side. If you shop around you may be able to get the conveyancing a bit cheaper by say £125. That being said, providing that you were satisfied with the conveyancing the firm provided you couldcome to rue opting for an a cheaper conveyancer. If is important to be sure that the solicitor can act for Lloyds TSB Bank. Do employ our search tool to find a Park Royal conveyancing firm on the Lloyds TSB Bank conveyancing panel, which can often include conveyancing solicitors in Park Royal.
Can you explain why leasehold purchase conveyancing in Park Royal is more expensive?
In summary, leasehold conveyancing in Park Royal and elsewhere usually warrants extra work compared to freehold conveyancing. This includes reviewing the lease, corresponding with the landlord concerning serving applicable notices, procuring current service charge and management information, securing the landlord’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 – no matter how many different leaseholders have owned the lease since it was first entered into.
Forgive me if this question is silly but I am unseasoned as a first time purchaser of a two bedroom flat in Park Royal. Do I pick up the keys to the property on the completion date from my conveyancer? If this is the case, I will instruct a High Street conveyancing solicitor in Park Royal?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the seller's conveyancers, and once they have received this, you should be invited to receive the keys from the Estate Agents and start moving into the property. Usually this happens early afternoon.
I'm at the point of looking at flats in Park Royal and I am now considering a potential offer. Is it advisable to have a solicitor on ‘stand by’? I will be getting a mortgage with Lloyds.
It would be prudent to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are seeking a mortgage with Lloyds, ask your prospective lawyers if they are on the Lloyds conveyancing panel otherwise they can't do the mortgage legal work.
I currently have a mortgage with HSBC for my property in Park Royal. Conveyancing has been completed some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?
HSBC must be informed of your intention in advance of renting your property as this is likely to be a breach of HSBC’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel firm.
Do commercial conveyancing searches reveal impending roadworks that may affect a commercial site in Park Royal?
Its becoming the norm that commercial conveyancing solicitors in Park Royal will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Park Royal. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Park Royal.
For each commercial conveyancing transaction in Park Royal it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can result in delays to Park Royal commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Park Royal.
Due to the encouragement of my in-laws I had a survey completed on a house in Park Royal ahead of instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies may refuse to give a mortgage on a flying freehold premises.
It depends who your proposed lender is. Santander has different instructions from Nationwide. If you call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Park Royal. Conveyancing will be smoother if you use a solicitor in Park Royal especially if they are accustomed to such properties in Park Royal.
Expecting to exchange soon on a leasehold property in Park Royal. Conveyancing lawyers have said that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Park Royal should include some of the following:
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Advice concerning the obligations in the lease to to contribute towards maintenance costs - with regard to both the building, and the more general rights a leaseholder has Do you need to have carpet in the flat or are you allowed wood flooring? Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? You should know whether the lease permits you to alter or upgrade aspects of the property- you must know whether it relates to all alterations or just structural alteration, and whether consent is required You should receive a copy of the lease
After months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Park Royal. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We are happy to put you in touch with a Park Royal conveyancing firm who can help.
An example of a Lease Extension case for a Park Royal property is 99 Connell Crescent in May 2013. the Tribunal held that the relevant sum for the purposes of the lease extension should be £72,566 to be paid by the leaseholder This case related to 1 flat. The remaining number of years on the lease was 28.42 years.