I have been told that property searches are the primary cause of hinderance in Parsons Green conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Parsons Green.
Due to the input of my in-laws I had a survey completed on a house in Parsons Green ahead of retaining solicitors. I have been advised that there is a flying freehold element to the house. My surveyor advised that some banks may not give a mortgage on a flying freehold home.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. If you e-mail us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Parsons Green. Conveyancing will be smoother if you use a solicitor in Parsons Green especially if they are acquainted with such properties in Parsons Green.
What tools are available to locate a Parsons Green law firm on the Norwich and Peterborough Building Society conveyancing panel? I am a keen cyclist and am happy to travel upto 20miles to meet the conveyancer.
You can use the search on this website. Please select a bank and your location and you will see a number of Parsons Green conveyancing lawyers located nearest you. We have detailed some Parsons Green conveyancing firms at the bottom of this page and you can telephone them to verify whether they are on the Norwich and Peterborough Building Society approved list
Should I appoint a Parsons Green conveyancing lawyer who is local to the property I am hoping to buy? I have an old university friend who can execute the legal work however his firm is located approximately 350miles away.
The benefit of a high street Parsons Green conveyancing firm is that you can visit the firm to sign paperwork, deliver your identification documents and pester 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 you know people who instructed your friend and on the whole were impressed that should surpass using an unknown Parsons Green conveyancing lawyer just because they are Parsons Green based.
I am attracted to a couple of apartments in Parsons Green both have approximately forty five years unexpired on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold apartment in Parsons Green is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most purchasers and lenders, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Parsons Green conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I have had difficulty in trying to purchase the freehold in Parsons Green. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We are happy to put you in touch with a Parsons Green conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Parsons Green flat is 66 and 66a Wardo Avenue in November 2012. The Tribunal determined that the sum of £8,048 is payable by the Applicants in respect of the price for the freehold of the property This case was in relation to 2 flats. The remaining number of years on the lease was 93 years and 162 years.