What happens if my lawyer’s firm is suspended from the Co-operative Conveyancing panel ahead of completing my conveyancing in Hyde Park?

First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.

There are numerous conveyancing solicitors in Hyde Park but how do I know who I should use?

We would encourage you not to base your choice on the cheapest Hyde Park conveyancing quote. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.

My aunt advised me that in buying a property in Hyde Park there could be a number of restrictions affecting the ability to carry out external alterations to the property. Is this right?

There are anumerous of properties in Hyde Park which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Hyde Park should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

Completion of my purchase has taken place for my property in Hyde Park. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?

Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.

How does conveyancing in Hyde Park differ for new build properties?

Most buyers of new build property in Hyde Park approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Hyde Park typically purchase the real estate, 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 property lawyers 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 Hyde Park or who has acted in the same development.

We're novice buyers - agreed a price, yet the property agent told us that the seller will only move forward if we instruct the agent's preferred solicitors as they need a ‘quick sale’. We would rather use a high street conveyancer accustomed to conveyancing in Hyde Park

It is highly unlikely the sellers are driving this. Should the seller want ‘a quick sale', taking such a hostile approach to a serious purchaser is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and make sure they comprehend that (a)you are motivated buyers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)however you intend to instruct your own,trusted Hyde Park conveyancing firm - not the ones that will provide their estate agent a introducer fee or hit his conveyancing targets demanded by head office.

I've recently bought a leasehold house in Hyde Park. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I bought a leasehold flat in Hyde Park, conveyancing was carried out 6 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Hyde Park with an extended lease are worth £222,000. The ground rent is £50 yearly. The lease ceases on 21st October 2096

With only 71 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.