Just contacted my conveyancing solicitor in Hyde Park who conducted the legals 18 months ago requesting a conveyancing costs illustration based on the same type of house move (a leasehold property and a freehold premises) of almost identical values with a mortgage from Bank of Ireland. I am now being charged twice the amount. Better the devil I know or should I seek out a cheaper online firm of conveyancing solicitor?

The estimate does seem a tad overpriced. If you you were to look around you might decrease the fees marginally by say £125. On the other hand, if you were pleased with the conveyancing the firm offered you couldlive to regret opting for an an untested conveyancer. If is important to enquire the solicitor can represent Bank of Ireland. You can utilise our search tool to find a Hyde Park conveyancing firm on the Bank of Ireland conveyancing panel, which can often include conveyancing solicitors in Hyde Park.

I am the registered owner of a freehold property in Hyde Park yet pay rent, why is this and what is this?

It’s unusual for properties in Hyde Park and has limited impact for conveyancing in Hyde Park but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.

Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.

A relative recommended that where I am buying in Hyde Park 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 occasionally quoted for as part of the standard Hyde Park conveyancing searches. It is a large report of more than thirty pages, listing and detailing significant information about Hyde Park around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information concerning Hyde Park.

Should I choose a Hyde Park conveyancing lawyer who is local to the property I am purchasing? We have a good friend who can carry out the legal work but his firm is located over three hundred miles away.

The primary upside of using a local Hyde Park conveyancing practice is that you can drop in to execute paperwork, hand in your identification documents and apply pressure on them where appropriate. They will also have local intelligence which is a bonus. However it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and in the main were content that should trump using an unknown Hyde Park conveyancing lawyer just because they are Hyde Park based.

Looking forward to exchange soon on a ground floor flat in Hyde Park. Conveyancing solicitors inform me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Hyde Park should include some of the following:

You must be informed what is to be regarded as a Nuisance as far as the lease is concerned The landlord’s rights to access the flat. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Defining your legal entitlements in respect of the communal areas in the block.By way of example, does the lease contain a right of way over a path or hallways? You would want to be sent a copy of the lease Are you allowed to have a pet in the flat?

Hyde Park Leasehold Conveyancing - A selection of Queries Prior to buying

Does the lease have onerous restrictions? The majority of Hyde Park leasehold properties will have a service charge for the upkeep of the building set on behalf of the management company. If you purchase the flat you will have to meet this contribution, normally periodically during the year. This can be anything from two or three hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent for you to pay annual, this is usually not a significant amount, say about £50-£100 but you should to enquire as occasionally it can be many hundreds of pounds.