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Lewis Nedas News

Lewis Nedas Law are London-based solicitors. Frequently rated in both Chambers UK and The Legal 500, we can help you or your business today. Tel: 020 7387 2032.

The Biggest Regrets of Home Buyers

The Telegraph (25/05/2013) reports the conclusions of a survey by ‘Which? Money’ focusing upon the regrets of homebuyers.

The biggest issues would appear to be feeling pressurised to pay more for the property, failing to order a full structural survey (invariably to save money in the short term), endowment mortgages (a story in itself), and insufficient research into the area into which they are buying.

This is why it is important to instruct fully qualified solicitors who can advise you about all the possible pitfalls of buying property in London and the South East.

Many purchasers, again in a bid to save money, instruct virtual law firms or conveyancing factories staffed by paralegals, on the basis that they offer cheap rates. They simply cannot provide the quality of advice and specialist experience that mature, specialist solicitors can. We work with leading surveyors and top London estate agents, have an excellent reputation, and provide a personally tailored service for YOU, ensuring that all of the possible regrets expressed by the respondents in the ‘Which? Money’ survey are addressed and any pitfalls avoided.

If you are buying or selling a property and want a first class service contact Richard McConnell, Janak Bakrania, Layna Thompson.

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London (and Camden) Property Prices Reach their Highest Levels to Date!

An article in the Financial Times (20/05/2013) refers to research by the property website Rightmove, which states that the average asking price for a home in London has now risen to £500,000. These prices have been fuelled, rather quickly, by low mortgage rates and the Government’s recently launched ‘help to buy’ scheme. It will undoubtedly lead to another housing bubble.

Camden has now joined the boroughs of Westminster and Kensington & Chelsea with average property pricing levels of £1 million!

There are other interesting developments in the London residential market. Sealed bids (as in the Scottish system) are on the rise, as is the number of inquiries by single dwellers (both young professionals and post-divorcees) and open house viewings (where the property is viewed by multiple intended purchasers) are also on the increase.

If you are considering buying or selling in Camden or indeed anywhere in London, you will need to instruct fully qualified, leading, property and conveyancing lawyers. We have over 30 years’ experience, with top specialist lawyers who will gently and efficiently guide you through the minefield of property acquisition.

Contact Richard McConnell, Janak Bakrania or Layna Thompson for advice.

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CML States 20% Increase in First Time Buyers in March 2013!

The Council for Mortgage Lenders reports that there has been a 20% increase in first time buyers since February 2013, but that this figure is 21.7% down from record levels in March 2012, which marked the end of the stamp duty amnesty. Overall, though, the government backed ‘Help to Buy Scheme’ and the ‘Funding for Lending Scheme’ (FLS) is helping to restore confidence in the first time buyer market.

This is a market which is rapidly changing; many first time buyers are older and have been saving for many years. Some are still reliant upon the ‘Bank of Mum and Dad’ for that deposit and most are incredibly cautious about venturing into the property market.

We know how nervous first time buyers can be and we have a specialist lawyer, Layna Thompson, who will gently and confidently take you through the process.

Contact Layna if you are a first time buyer for efficient conveyancing at reasonable rates.

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LNL Conveyancing Department Awarded CQS Membership

We have been awarded membership of the Law Society's prestigious Conveyancing Quality Scheme (CQS). This is the mark of excellence for the home buying process and conveyancing solicitors. It means that we have met the high and demanding standards of the scheme which has been endorsed by the following:

The lending panels of all major mortgage lenders; the Council of Mortgage lenders; the Building Societies Association; the Legal Ombudsmen and the Association of British Insurers.

Only a minority of conveyancing firms have achieved this standard.

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Camden property prices increase again.

Good news for property owners in Camden, The Times 30th March 2013, reports that The Nationwide Building Society’s latest report concludes that London prices, on the whole, are now higher than 2007 with Camden showing the strongest growth of 15% increase year on year.

We are not surprised...Camden is vibrant, exciting, cool with many young businessses setting up .It is bursting with great shops, restaurants, and music and Arts venues.  It also has some of the best state schools in North London. It is central, well served by public transport and a relatively safe area in which to live.

We have noticed that it isn’t just young people seeking to buy in Camden but also older downsizing buyers looking to avail of the rich cultural scene in Camden.

Our equally cool and trendy property team can help with any property sale /purchase in Camden. They are fast, efficient, savvy and offer reasonably priced property services.

Contact: Richard McConnell; Janak Bakrania or Layna Thompson on 02073872032

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