I am under pressure from the seller of a property in Queen's Park to complete within four weeks. What can I do to quicken up the buying process?
Where the seller is applying a tight deadline to sign contracts we would recommend that your solicitor is familiar with the area as they will make use of local relationships and insight. It is possible that they would have transacted previousproperties in the same neighbourhood. You would be best advised to use a Queen's Park conveyancing firm. Second, ensure that the conveyancing firm is on the member panel. It is claimed that 18% of Queen's Park conveyancing deals are held up or jeopardised after finding out that a purchaser’s conveyancer was not on their banks member panel. This can often result in the legal transfer of property being frustrated by an average of three weeks. It is estimated that this issue impacts approximately 100,000 home sales annually. Most Queen's Park conveyancing practices can not act for certain banks so do check as early as possible.
As a FTB what is the most important number one tip you can give me concerning purchase conveyancing in Queen's Park?
Not many law firms shout this from the rooftops but conveyancing in Queen's Park or throughout North West London is often a confrontational process. In other words, when it comes to conveyancing there is plenty of room for confrontation between you and other parties involved in the ownership transfer. For example, the seller, selling agent and on occasion your bank. Choosing a solicitor for your conveyancing in Queen's Park is a critical decision as your conveyancer is your adviser, and is the SOLE party in the process whose interest is to look after your legal interests and to keep you safe.
Every so often a potential adversary will attempt to persuade you that you should follow their advice. For instance, the selling agent may claim to be assisting by suggesting your conveyancer is slow. Or your mortgage broker may advise you to do something that is against your solicitors recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Queen's Park?
There are many registered licenced Conveyancers in Queen's Park and Solicitor practices in Queen's Park to choose from We would stress that both are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. The two can handle associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
How can we tell if a Queen's Park conveyancing solicitor on the Aldermore panel is any good?
When it comes to conveyancing in Queen's Park obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer carrying out your transaction.
My husband and I have arranged the release of further monies on our home loan from Nationwide as we wish to carry out a loft conversion to our house in Queen's Park. Do we need to appoint a bricks and mortar Queen's Park solicitor on the Nationwide conveyancing panel to deal with the paperwork?
Nationwide don't usually require a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide list.
How does conveyancing in Queen's Park differ for new build properties?
Most buyers of new build residence in Queen's Park contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is constructed. This is because house builders in Queen's Park tend to buy the real estate, 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 accustomed to new build conveyancing in Queen's Park or who has acted in the same development.
I have been on the look out for a flat up to £195,000 and identified one near me in Queen's Park I like with a park and railway links nearby, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Queen's Park in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage the remaining unexpired lease term may be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
I've recently bought a leasehold house in Queen's Park. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the proprietor of a basement flat in Queen's Park. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Queen's Park conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Queen's Park property is 4 & 4A Charteris Road in June 2009. the Tribunal held that the price to be paid for the enfranchisement of 4/4a Charteris Road to be £15,510 for at 4and £15,694 for at 4a This case affected 2 flats. The remaining number of years on the lease was 70.02 years.