We are purchasing a flat in Ruislip. It might be a silly question but how we can trust a lawyer? At some point we will need to send funds into their account. What is the protection we have from them run away with our monies?
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.
When it comes to lenders such as Nottingham, do Ruislip lawyers face a fee to be on the list of approved solicitors?
We are not aware of any lender fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I am due to exchange contracts on my apartment. I had a double glazing fitted in September 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nottingham are being problematic. The Ruislip solicitor who is on the Nottingham conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Nottingham are insisting on a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Ruislip differ for new build properties?
Most buyers of new build premises in Ruislip contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Ruislip tend to buy 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 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 used to new build conveyancing in Ruislip or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Ruislip ahead of retaining conveyancers. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some lenders may refuse to grant a loan on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. Should you wish to call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ruislip. Conveyancing may be slightly more expensive based on your lender's requirements.
I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Ruislip. Conveyancing advisers have are about to be appointed. Will they explain the issues?
Most houses in Ruislip are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Ruislip so you should seriously consider looking for a Ruislip conveyancing practitioner and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.
Following years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Ruislip. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the premium.
An example of a Lease Extension case for a Ruislip residence is Flat 72 Queens Walk in January 2013. The Tribunals calculated the premium payable to be £22,090. This case affected 1 flat. The unexpired term was 53.26 years.
I am just shy of a 10% deposit on my apartment purchase in Ruislip , but I still want to go ahead. Do I have options?
One option is to try and agree a lower deposit. Most vendors will agree to a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment