We are selling our house in West Brompton. Will my need to be on the conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
My wife and I are downsizing from our home in West Brompton and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A local lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed a factory type conveyancing outfit rather than a conveyancing solicitor in West Brompton. Having lived in West Brompton for many years we know of no issue. Do we get in touch with our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Due to the guidance of my in-laws I had a survey completed on a property in West Brompton in advance of retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some banks will not grant a loan on a flying freehold home.
It depends who your proposed lender is. HSBC has different instructions for example to Nationwide. Should you wish to telephone us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in West Brompton. Conveyancing may be slightly more expensive based on your lender's requirements.
I'm refinancing my primary house to a BTL mortgage with and I will use the ballance of the raised equity as a deposit on a second house. The location we are talking about is West Brompton. Will your lawyers be able to act for the two banks and tie in the two deals?
Make use of our comparison tool on this site to ensure that the lawyers are approved by both banks. Assuming that they are the solicitor should be able to simultaneously deal with the two transactions but you should talk with you lawyer and make apparent your desired outcome and requirements.
I've found a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in West Brompton. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in West Brompton ?
Most houses in West Brompton are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in West Brompton so you should seriously consider looking for a West Brompton conveyancing practitioner and be sure that they have experience in dealing with 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 to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should advise you fully on all the issues.
I inherited a 1st floor flat in West Brompton, conveyancing having been completed 1995. How much will my lease extension cost? Equivalent flats in West Brompton with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £45 per annum. The lease ends on 21st October 50
With 50 years left to run we estimate the price of your lease extension to be between £36,100 and £41,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.