Why do I have to pay up front for conveyancing in Acton?
If you are buying a property in Acton your lawyer will request that you place them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the total price then this will be asked for immediately before contracts are exchanged. The final balance that is needed should be sent to your lawyer a couple of days prior to the completion date.
My aunt passed away last year and as sole heir and executor I was left the house in Acton. The house had a small mortgage left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this allowed?
Given you intend to refinance then Lloyds will require that you use a conveyancer on the Lloyds conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Lloyds conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Lloyds mortgage is registered as a charge at the Land Registry.
Do commercial conveyancing searches disclose planned roadworks that may affect a commercial premises in Acton?
Many commercial conveyancing solicitors in Acton will perform a SiteSolutions Highways report as it reduces the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Acton. 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 Acton.
For each commercial conveyancing transaction in Acton it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Acton commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Acton.
I'm purchasing my first flat in Acton with a loan from Chelsea Building Society. The sellers refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not to tell my lawyer about this deal as it would put at risk my loan with Chelsea Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Last October I purchased a leasehold property in Acton. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner 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 ensure 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).
Following months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Acton. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We are happy to put you in touch with a Acton conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Acton property is 4 Woodhurst Road in July 2013. The Tribunals valuation for the premium to be paid in respect of the collective enfranchisement was £51,050. This case related to 2 flats. The unexpired residue of the current lease was 63.75 years.