Can conveyancing in The Park to be done in under a month?

In the event that the seller is applying pressure to exchange we would recommend that your conveyancer is familiar with the location as they will benefit local connections and intelligence. It is possible that they may have handled otherhouses in the same road. You would be best advised to use a The Park conveyancing solicitor. Second, make sure that the lawyer is on the member panel. It is said that just under twenty per cent of The Park conveyancing transactions are delayed or derailed after finding out that a buyer’s lawyer was not on their mortgage lender’s member panel. In many cases this discovery resulted in the conveyancing being held up by as much as 21 days. It is understood that this issue affects in the region of one hundred thousand home moves every year. Most The Park conveyancing firms can not act for certain banks so do check at the outset.

We are buying a house in The Park. It might be a silly question but how we can trust a solicitor? At some point we have to put our life savings into their account. What protection do we have from them run away with our money?

Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.

I am purchasing a property in The Park. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nottingham be concerned?

Given that your lender is Nottingham your lawyer must comply with the conveyancing instructions outlined in Section two of UK Finance Lenders’ Handbook for Nottingham. The Council of Mortgage Lenders’ Handbook includes minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Nottingham where a lease does not comply with these specifications. The conditions relate to the installation of panels on properties countrywide and is not limited to The Park.

I recently had an offer accepted on an apartment in The Park. My mortgage broker suggested a solicitor. I paid an advanced payment of £175. Shortly after, the solicitor called me embarrassingly acknowledging that they were not on the Bank of Ireland conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the Bank of Ireland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

I have todaybeen informed that Wolstenholmes have been shut down. They conducted my conveyancing in The Park for a purchase of a freehold house 10 months ago. How can I be sure that my home is not still registered in the name of the previous owner?

The easiest way to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of The Park conveyancing specialists.

I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. The Park is where the house is located. Can you offer any assistance?

Flying freeholds in The Park are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside The Park you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in The Park may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

I've found a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in The Park. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

The majority of houses in The Park are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in The Park in which case you should be shopping around for a The Park conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your lawyer will appraise you on the various issues.

I acquired a split level flat in The Park, conveyancing was carried out 7 years ago. How much will my lease extension cost? Equivalent properties in The Park with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2095

With just 71 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 plus professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.