My wife and I are hoping to buy a flat in Wembley Park and have appointed a Wembley Park conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Bank of Ireland have this evening contacted us to inform me that there is now an issue as our Wembley Park lawyer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property requiring a mortgage it is usual for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Wembley Park lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Do commercial conveyancing searches reveal impending roadworks that may impact a commercial site in Wembley Park?
Many commercial conveyancing solicitors in Wembley Park will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Wembley Park. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Wembley Park.
For every commercial conveyancing transaction in Wembley Park it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may result in delays to Wembley Park commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Wembley Park.
How does conveyancing in Wembley Park differ for newly converted properties?
Most buyers of new build or newly converted property in Wembley Park contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is built. This is because builders in Wembley Park 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 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 accustomed to new build conveyancing in Wembley Park or who has acted in the same development.
Given that I am about to part with hundreds of thousands of pounds on a garden flat in Wembley Park I would like to talk to a solicitor regarding thetransaction ahead of giving the go ahead to the firm. Is this something that you can arrange?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you first talking to the lawyer due to be carrying out your conveyancing in Wembley Park.There is no ‘factory style conveyancing’ - each client is an important person, not a matter number. The law firms that we put you in touch with believe that the fees you are provided with for residential conveyancing in Wembley Park should be the figure that you end up paying.
I’m about to sell my 2 bed apartment in Wembley Park. Conveyancing solicitors are to be appointed soon, however I have recently received a quarterly maintenance charge demand – what should I do?
It best that you pay the maintenance contribution as you normally would given that all rents and maintenance charges will be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Wembley Park conveyancing firm to act on my behalf?
Absolutely. We are happy to put you in touch with a Wembley Park conveyancing firm who can help.
An example of a Lease Extension case for a Wembley Park residence is Ground Floor Flat 69 Clifton Avenue in March 2012. the Tribunal determined that the premium payable for the new lease was £5,932 This case related to 1 flat. The unexpired lease term was 76.06 years.
How up-to-date is your search tool for the mortgage company conveyancing panel in Wembley Park? Do the banks send you an updated list?
Wembley Park firms and firms carrying out conveyancing in Wembley Park themselves provide us confirmation that they are on the lender conveyancing panel as opposed to being supplied with a list from the mortgage company directly.