I have justdiscovered that Action Conveyancing have been shut down. They carried out my conveyancing in Piccadilly for a purchase of a freehold house 18 months ago. How can I check that my home is in my name in the name of the former proprietor?
The quickest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Piccadilly conveyancing specialists.
How does conveyancing in Piccadilly differ for newly converted properties?
Most buyers of new build property in Piccadilly contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is finished. This is because new home sellers in Piccadilly typically 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 conveyancers 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 Piccadilly or who has acted in the same development.
How do I use the search app to find a conveyancing solicitor in Piccadilly on the approved list for my lender?
Step one is to choose a bank such as Nationwide Building Society, Leeds Building Society or Platform Home Loans Ltd then type in your location a common one being Piccadilly. Conveyancing practices in Piccadilly and further afield should be shown.
My husband and I are first time buyers - had an offer accepted, yet the estate agent told us that the vendor will only go ahead if we instruct the agent's recommended solicitors as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a high street solicitor who is familiar with conveyancing in Piccadilly
It is highly unlikely the vendors are driving this. Should the vendor desire ‘a quick sale', turning down a motivated purchaser is is going to put the whole deal at risk. Contact the sellers directly and make sure they comprehend that (a)you are motivated buyers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)but you will continue to instruct your own,trusted Piccadilly conveyancing firm - as opposed tothose that will give their estate agent a introducer fee or hit his conveyancing targets demanded by HQ.
I am tempted by the attractive purchase price for a couple of apartments in Piccadilly both have approximately fifty years left on the lease term. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold flat in Piccadilly is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. The majority of buyers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Piccadilly conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the registered owner of a basement flat in Piccadilly. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
in cases where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the sum to be paid.
An example of a Lease Extension case for a Piccadilly property is Flat 1 3 Upper Belgrave Street in December 2010. The Tribunal determined that the price payablefor the Lease extension in respect of the subject premises was £2,202,007 This case was in relation to 1 flat. The unexpired lease term was 21 years.
Is it the case that all Piccadilly property lawyers on every bank conveyancing panel?
The Lexsure search tool on this page may be of use or you can go into your local bank branch in Piccadilly. the probability is that they will be in a position to recommend some approved conveyancing solicitors in Piccadilly