I am purchasing a semi-detached house in Park Royal. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Park Royal you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Park Royal.
A friend suggested that if I am purchasing in Park Royal I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Park Royal conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Park Royal around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Park Royal Education with maps and statistics, Local Amenities and other useful data regarding Park Royal.
How does conveyancing in Park Royal differ for newly converted properties?
Most buyers of new build or newly converted property in Park Royal contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Park Royal tend to purchase 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 used to new build conveyancing in Park Royal or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Park Royal is the location of the property. What do you suggest?
Flying freeholds in Park Royal are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Park Royal you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Park Royal may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Completion is due on the disposal of our £150,000 maisonette in Park Royal in 5 days. The management company has quoted £384 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Park Royal?
Park Royal conveyancing on leasehold maisonettes nine out of ten times necessitates fees being invoiced by managing agents :
Completing conveyancing due diligence enquiries
Where consent is required before sale in Park Royal
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I have had difficulty in seeking a lease extension in Park Royal. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to arrive at the amount due.
An example of a Lease Extension decision for a Park Royal flat 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 number of years remaining on the existing lease(s) was 28.42 years.
I am due to consider estimates for conveyancing in Park Royal from numerous lawyer and decide on one. Am I right to ask them to hold tight until I a suitable apartment to buy.
We would recommend that you wait to ask your lawyer to start work and submit searches once the offer has been accepted on the property particularly as Park Royal conveyancing searches are costly.