I require conveyancing for an apartment in a fairly new development (6 years old) in North Acton. Almost all the flats are already occupied. Do I need carry out the local searches as part of conveyancing in North Acton?
Where you are obtaining a loan, your bank will need some (many) of the searches so you'll have no choice. If not, then North Acton conveyancing searches are for you to decide upon. No doubt your conveyancer, will 'advise', perhaps strongly, that you should not go ahead without searches, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you choose to instruct your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in North Acton.
We're in North Acton, FTBs buying with a mortgage (lender is UBS , and our lawyer is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
How does conveyancing in North Acton differ for newly converted properties?
Most buyers of new build or newly converted property in North Acton contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in North Acton typically buy 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 conveyancing solicitors 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 accustomed to new build conveyancing in North Acton or who has acted in the same development.
Should I choose a North Acton conveyancing practitioner who is local to the property I am buying? I have an old university friend who can deal with the legal formalities but her office is a couple of hundredkilometers drive away.
The primary upside of using a local North Acton conveyancing firm is that you can visit the firm to execute documents, hand in your identification documents and apply pressure on them if necessary. They will also have local knowledge which is a bonus. However it's more important to get someone that will do a good and efficient job. If other friends have used your friend and the majority were happy that should outweigh using an unfamiliar North Acton conveyancing solicitor solely due to them being round the corner.
I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in North Acton. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
Most houses in North Acton are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in North Acton in which case you should be looking for a North Acton conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer will report to you on the legal implications.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a North Acton conveyancing firm to assist?
Most definitely. We can put you in touch with a North Acton conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a North Acton flat is 49 Long Drive in March 2014. The tribunal concluded that the price payable for the freehold interest in the Property should be £26,491 divided as to £12,546 in respect of the ground floor flat and £13,945 in respect of the first floor flat This case affected 2 flats. The remaining number of years on the lease was 68.47 years.