Do all mortgage companies provide you with an approved list of West London conveyancing solicitors? How do you know who is on the Virgin Money conveyancing panel?
West London conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
How does conveyancing in West London differ for newly converted properties?
Most buyers of new build property in West London contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in West London usually acquire 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 West London or who has acted in the same development.
My company is hoping to take an assignment of a lease of a shop on a shopping parade. Can you recommend lawyers offering fixed costs for commercial conveyancing in West London for below £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in West London, including the disposal and acquisition of businesses as well as simply property. If you are looking to purchase or dispose of a shop, pub, restaurant, office, retail unit or a whole business we will find you the right solicitor. Regarding the charges this will depend on the structure and terms of the deal. Let us have your contact information or call so as to enable us to provide you with a fixed commercial conveyancing calculation.
In my capacity as executor for the will of my aunt I am disposing of a house in Cardiff but reside in West London. My conveyancer (who is 260 miles from meneeds me to execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing lawyer in West London who can witness this legal document for me?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are West London based
I am tempted by the attractive purchase price for a two apartments in West London both have about fifty years remaining on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold flat in West London is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most purchasers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 premises 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 West London conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 own a ground-floor 1960’s flat in West London. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
You certainly can. We are happy to put you in touch with a West London conveyancing firm who can help.
An example of a Lease Extension decision for a West London flat is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case affected 2 flats. The unexpired residue of the current lease was 72.39 years.
Builders have suggested I use a lawyer and I've sought an estimate from them. They are nearly £250 cheaper than my own West London conveyancer. What's the catch?
Developers frequently have panels of conveyancing practitioners who expedite matters and who know the builder's paperwork and conveyancing practitioner. Plenty of developers offer an inducement to choose a preferred property lawyer for this reason, any increased cost can be avoided and a builder will not suggest a conveyancing warehouse and run the risk of having the conveyancing stall when they demand an exchange within a tight time frame. A counter-argument for not opting for the suggested property lawyer is that they may be reluctant to 'push' your interests for fear of alienating the housebuilder. Where you have concerns that this may be the case you should remain with your local West London conveyancing practitioner.