My previous solicitor has sent a quote for £1400 for leasehold conveyancing in Highams Park. I am hoping to sell a newly refurbished property for £225,000. This sounds too much. Is it in excess of the norm for conveyancing in Highams Park?
The quote is fractionally on the steep side. If you shop around you might trim some of the cost by say £125. On the other hand, you maylive to rue opting for an an untested lawyer. If is important to be sure the firm can represent your bank. Do employ our search tool to find a Highams Park conveyancing company on the lender’s approved list of lawyers which can often include conveyancing solicitors in Highams Park.
I had intended to instruct a conveyancing solicitor in Highams Park for our home move. Our financial adviser has since advised us that our mortgage lenders Bank of Scotland won't deal with them. Surely this is unduly restrictive?
Banks on the whole restrict either the category or the volume of conveyancing firms on their member panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, a few lenders have decided to limit the number of firms they use to act for them. You should note that Bank of Scotland have no responsibility for the quality of advice provided by any member of Bank of Scotland Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels a few years ago even though there remains mixed opinions regarding the level of solicitor engagement in some of that fraud. Data from the Land Registry reveal that hundreds of law firms, including some in or near Highams Park only execute very few conveyances per annum.
I am the single recipient of my late mum's will with all property in now in my sole name, including the my former home in Highams Park. The Highams Park property was put into my name in June. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship will be treated the same way as if I'd bought the property in June. Will no one buy the property for half a year?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How practical a view banks take of it, depend on the bank as this clause primarily exists to capture the purchase and immediately sell or the quick reselling of properties.
I have decided to exercise my right to buy my property in Highams Park off the council. I have a mortgage agreed with Skipton. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
Santander have agreed my home loan in principle, my offer on a apartment in Highams Park has been accepted, what are the next steps?
Your estate agent will wish to be informed of your property lawyer's details (make sure the conveyancing practitioners are on the lender’s approved list). Call up Santander or the broker and complete any appropriate forms. Santander will appoint a valuer who will get in touch with the selling agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes on average a week for the mortgage offer to be issued. Santander will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Highams Park.
Do commercial conveyancing searches reveal impending roadworks that may impact a commercial premises in Highams Park?
Its becoming the norm that commercial conveyancing solicitors in Highams Park will conduct a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Highams Park. The report 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 Highams Park.
For every commercial conveyancing transaction in Highams Park it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could cause delays to Highams Park commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Highams Park.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one close by in Highams Park I like with a park and station nearby, however it's only got 49 remaining years left on the lease. I can't really find anything else in Highams Park suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan the shortness of the lease may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.