I am purchasing a new build flat in Park Royal. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
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.
I am the sole beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Park Royal. The Park Royal property was put into my name in July. I want to move. I do know about the CML 6 month 'rule', meaning my property ownership may be treated the same way as if I'd bought the house in July. Is the property unsalable for six months?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. many lenders would take a sensible view as this provision is primarily there to pick up on the purchase and immediately sell or the wholesaling and assigning of property.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Park Royal solicitor on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I currently have a mortgage with Nottingham for my property in Park Royal. Conveyancing has been completed a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nottingham?
Nottingham must be informed of your intention before renting your property as this is likely to be a breach of Nottingham’s mortgage conditions. It may be that Nottingham will allow you to rent 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 Nottingham directly. It should not be necessary to do this via a Nottingham conveyancing panel lawyer.
Have purchased a a terraced house in Park Royal , What is the estimated time for the Land Registry to record my ownership? My Park Royal conveyancing solicitor has been very slow, so I want to check that my purchase is recorded.
As far as conveyancing in Park Royal registration is no faster or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can differ depending on the party submitting the application, whether there are errors and whether the Land registry communicate with any other parties. At present approximately three quarters of submission are fully addressed in less than three weeks but some can be subject to extensive delays. Historically registration occurs once the new owner is living at the premises thus an expedited registration is not usually an essential issue but if it is urgent that the the registration takes place urgently then you or your lawyers must communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Park Royal differ for newly converted properties?
Most buyers of new build residence in Park Royal come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because builders in Park Royal tend to acquire the site, 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 property lawyers 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 need to appoint a conveyancing solicitor for remortgage conveyancing in Park Royal. I have stumble across a site which seems to have the perfect offering If there is a chance to get all this stuff done via phone that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I want to let out my leasehold apartment in Park Royal. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Notwithstanding that your previous Park Royal conveyancing solicitor is not around you can review your lease to check if you are permitted to let out the premises. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you must seek permission via your landlord or some other party prior to subletting. The net result is you not allowed to sublet in the absence of prior consent. Such consent must not not be unreasonably turned down. If the lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
Having spent months of correspondence 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?
if there is a absentee freeholder or if there is disagreement 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 calculate the price payable.
An example of a Lease Extension matter before the tribunal 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 was in relation to 1 flat. The unexpired term as at the valuation date was 28.42 years.