A friend recommended that where I am buying in Hampstead I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Hampstead conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Hampstead around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Hampstead Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information regarding Hampstead.
How does conveyancing in Hampstead differ for new build properties?
Most buyers of new build residence in Hampstead come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Hampstead tend to purchase 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 used to new build conveyancing in Hampstead or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in Hampstead I like with a park and railway links in the vicinity, however it's only got 51 years on the lease. I can't really find anything else in Hampstead suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a home loan the remaining unexpired lease term will likely be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
Hoping to buy a property located in Hampstead and I am already nervous. I couldn't find anything specific about Hampstead. Conveyancing will be needed in due course but do you know about the Hampstead area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Hampstead. In the meantime here are some basic statistics that we found
I need to swap lawyers as my Hampstead lawyer is not on the lender's approved list of conveyancing solicitors. Is it advisable to appoint a new law firm?
If you haven't yet instructed a solicitor to do anything for you and have just received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Hampstead that you're thinking of instructing.