How does conveyancing in Notting Hill differ for newly converted properties?

Most buyers of new build premises in Notting Hill approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is constructed. This is because house builders in Notting Hill tend to purchase the site, 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 conveyancers 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 Notting Hill or who has acted in the same development.

I am looking for a ground for flat up to £195,000 and found one close by in Notting Hill I like with a park and transport links nearby, however it's only got 61 remaining years left on the lease. There is not much else in Notting Hill in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?

Should you require a home loan the remaining unexpired lease term may be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.

In sourcing the world wide web for the term on line conveyancing in Notting Hill it reveals numerous solicitorsin the vicinity. With so much choice what is the best way to find the right property lawyer for my move?

The best method of seeking the right conveyancer is via personal recommendation, so enquire of friends and family who have purchased a property in Notting Hill or a reputable estate agent or mortgage broker. Fees for conveyancing in Notting Hill differ, so it's advisable to obtain at least three estimates from different companies. Make sure that you know what costs in the quote includes.

I purchased a 1st floor flat in Notting Hill, conveyancing was carried out in 1995. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Notting Hill with a long lease are worth £165,000. The ground rent is £45 per annum. The lease ceases on 21st October 50

With only 50 years remaining on your lease we estimate the premium for your lease extension to range between £36,100 and £41,800 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

Are Notting Hill conveyancing solicitors duty bound by the Law Society to supply clear conveyancing costs?

Contained within the Solicitors Code of Conduct are specific rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be interpreted as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, constitute the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Notting Hill or across England and Wales.