Why is leasehold purchase conveyancing in Colindale is more expensive?
Colindale leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
A friend suggested that where I am purchasing in Colindale I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Colindale conveyancing searches. It is not a small document of more than thirty pages, listing and setting out important information about Colindale around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Colindale Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Colindale Education with maps and statistics, Local Amenities and other useful data concerning Colindale.
I completed on my home on 16 March and my personal details is not yet registered. Need I be worried? My conveyancing solicitor in Colindale advises it would be recorded in a couple of weeks. Are properties in Colindale particularly slow to register?
As far as conveyancing in Colindale registration is no faster or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can differ subject to who lodges the application, whether there are errors and whether the Land registry communicate with any other persons or bodies. At present approximately 80% of such applications are fully addressed within 12 days but some can be subject to extensive hold-ups. Historically registration occurs after the buyer is living at the premises thus an expedited registration is not always top priority but if there is a degree of urgency associated with the registration then you or your conveyancer could contact the land registry and explain the circumstances.
I'm buying my first flat in Colindale with a mortgage from Santander. The builders would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not reveal to my lawyer about the deal as it could impact my mortgage with Santander. 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.
I was pointed in your direction by two or three local selling agents in Colindale to select a solicitor on your site. Is there a financial inducement for Estate Agents to recommend your site ahead of a competitor’s?
We refuse to make any referral fee for sending work in our direction. We thought it would be too underhand to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.