I am need of leasehold conveyancing for an apartment in a relatively new development (five years built) in Colindale. 95% of the appartments have already been disposed of. Do I need carry out the neighbourhood searches as part of conveyancing in Colindale?
A big part of the Colindale legal transfer of property is the conveyancing searches. There are a large number of search providers conducting Colindale conveyancing searches, as well straight from the local authority. These are usually referred to as personal search organisation and they produce, not surprisingly, personal searches. Nevertheless, all Local Authority Search conveyancing products have one thing in common - they must secure their data from the local authoritative source.
We note that you have a search directory identifying law firms on the HSBC conveyancing panel. Do firms pay you a referral fee if I instruct them for our own conveyancing in Colindale?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Colindale.
We're in Colindale, First timers purchasing with a mortgage (lender is Skipton , and our lawyer is on the Skipton conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Skipton conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have been recommended by two or three local estate agents in Colindale to choose a conveyancer on your site. Is there a financial inducement for Estate Agents to market your lawyers over alternative conveyancing organisations?
We refuse to give any financial incentive for sending work to this site. We found it would be just too difficult to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am employed by a busy estate agency in Colindale where we have witnessed a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Colindale conveyancing firms. Can you clarify whether the owner of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a basement flat in Colindale. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
You certainly can. We are happy to put you in touch with a Colindale conveyancing firm who can help.
An example of a Lease Extension case for a Colindale property is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case was in relation to 1 flat. The unexpired term was 70.25 years.