I chose a The Park based lawyer for our conveyancing in The Park today. Upon checking the fine print I seeI am liable for costs even if our purchase doesn't happen. Would I be best advised to use an internet conveyancing company offering no move no charge conveyancing in The Park?
Generally there is a compromise along the lines that if "No Completion No Fee" is advertised then the fee levels will generally be more expensive to offset the conveyances that do not go ahead. Please beware that these promotions tend not to protect you from outlay such as The Park conveyancing search charges.
Can your site be used to find a Conveyancing solicitor in The Park even if I’m not buying or disposing of a house, for example where I want to buy an office in The Park with a mortgage from Chelsea Building Society?
The service is predominantly there to find residential conveyancing solicitors in The Park but we have set out at the bottom of this page a selection of The Park commercial conveyancing firms. You should enquire with the company directly to establish if they are also authorised to represent Chelsea Building Society
About to place a bid on a leasehold flat in The Park. The selling agents tell me that it is normal for flats in The Park to have less than 75 years remaining. I am obtaining a loan with Accord Mortgages. Is this going to be acceptable if the lease has 72 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 25/2/2024 the requirements read as follows :
My aunt informed me that in buying a property in The Park there may be various restrictions preventing external changes to the property. Is this right?
We are aware of a number of properties in The Park which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in The Park should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My lawyer has informed me that lack of planning permission insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in The Park?
The right level of lack of planning permission indemnity insurance should be dictated by who your lender. It would differ for example between Lloyds TSB Bank and The Royal Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such insurances.
Can I be sure that the The Park conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in The 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 conducting your transaction.
All being well we will complete the disposal of our £375,000 maisonette in The Park on Thursday in a week. The managing agents has quoted £384 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in The Park?
For the majority of leasehold sales in The Park conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
Answering conveyancing due diligence enquiries
Where consent is required before sale in The Park
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I invested in buying a 1 bedroom flat in The Park, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in The Park with over 90 years remaining are worth £265,000. The ground rent is £50 levied per year. The lease comes to an end on 21st October 2100
With 76 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
I am considering instructing a web based conveyancer as opposed to a The Park conveyancing practice. Should I ‘stay local’?
There are advantages of being able to visit a local The Park conveyancing solicitor such as
- signing papers same day
- sometimes being able to see someone face-to-face can make a significant difference, particularly for non-standard transactions
- the ability to raise concerns if matters need to addressed
When comparing quotes, look out for hidden extras. Most decent The Park high street solicitors give an all-inclusive figure. Many online companies appear to offer cheap fees, yet have burried 'extras' in the small print.