Just been in touch with my conveyancing lawyer in Notting Hill who completed the legal work 18 months ago and wanted a conveyancing estimate based on the same type of home move (a leasehold residence and a freehold premises) of almost identical values with a mortgage from Virgin Money. I am now being quoted twice the amount. Should I hunt for an alternative conveyancer?
The costs illustration is fractionally on the steep side. If you shop around you might decrease the fees marginally by say £125. On the other hand, if you were happy with the conveyancing the firm provided you mightcome to rue opting for an a cheaper lawyer. Remember to be sure the solicitor can also act for Virgin Money. You can use our search tool to locate a Notting Hill conveyancing firm on the Virgin Money approved list of lawyers, which can often include conveyancing solicitors in Notting Hill.
The Notting Hill conveyancing firm handling our Notting Hill conveyancing has uncovered an inconsistency when comparing the assumptions in the valuation survey and what is in the legal papers for the property. My lawyer has advised that he is obliged to check that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s stance right?
Your lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Will our conveyancer be asking questions regarding flooding as part of the conveyancing in Notting Hill.
The risk of flooding is if increasing concern for lawyers dealing with homes in Notting Hill. There are those who buy a property in Notting Hill, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, however there are a various searches that may be undertaken by the buyer or by their conveyancers which can figure out the risks in Notting Hill. The standard completed inquiry forms given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the vendor to determine whether the property has historically flooded. In the event that the residence has been flooded in past and is not notified by the vendor, then a buyer could bring a compensation claim as a result of such an misleading response. A purchaser’s conveyancers will also order an environmental report. This should indicate if there is a recorded flood risk. If so, additional investigations will need to be conducted.
I opted to have a survey carried out on a house in Notting Hill before retaining conveyancers. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some banks may not issue a mortgage on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. If you e-mail us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Notting Hill. Conveyancing will be smoother if you use a solicitor in Notting Hill especially if they are acquainted with such properties in Notting Hill.
I've found a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Notting Hill. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
The majority of houses in Notting Hill are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Notting Hill in which case you should be shopping around for a Notting Hill conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to conduct alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.
I have had difficulty in trying to reach an agreement for a lease extension in Notting Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We can put you in touch with a Notting Hill conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Notting Hill property is 2 Grove House 95 Addison Road in October 2013. the Tribunal decided that the premium to bepaid for a new lease is £50,050. This case affected 1 flat. The unexpired term was 68.4 years.