What is the best way to find out if the solicitor conducting my conveyancing in Covent Garden is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Aldermore thus paying £175.00 in additional conveyancing costs.
Please do make use of the search tool on this web page. Please choose the mortgage company and type ‘Covent Garden’ or your location and you will discover a number of lawyer based in Covent Garden or nearest you.
I am due to move house in July. Does my conveyancing solicitor update the removal company on the completion day. Incidentally, can you put forward a removal company in Covent Garden. Conveyancing solicitor was organised before I stumbled across your page.
On the afternoon of completion you will need to pick up the house keys from the property agent but this can only occur when the vendors solicitors advise the agent that they have the completion monies and the keys can be passed over. You will need to advise the removal company that they can start moving you in. As a matter of policy we do not suggest a specific removal organisation but can assist you in locating a conveyancing in Covent Garden or a firm with expertise in conveyancing in Covent Garden.
We previously appointed conveyancers located in Covent Garden on the HSBC solicitor panel. They have just billed me a further sum for dealing with the HSBC mortgage. Is this an additional conveyancing fee specified by HSBC?
Provided it is contained in their Terms of Engagement or estimate then yes your property lawyer may levy a fee for this. The charge is not dictated by HSBC but by your Covent Garden solicitor. Numerous firms on the HSBC panel will charge an ‘acting for lender’ fee and others do not.
We were going to get a OIP from Clydesdale this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Clydesdale recommend any Covent Garden solicitors on the Clydesdale conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Covent Garden solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
We are downsizing from our home in Covent Garden and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. A local conveyancer would know this is not the case. It does beg the question why the buyers used an online conveyancing outfit as opposed to a conveyancing solicitor in Covent Garden. Having lived in Covent Garden for 4 years we know of no issue. Do we contact our local Authority to obtain confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You need to check with 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 life insurance to cover that same illness)
It has been three months since my purchase conveyancing in Covent Garden completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a leasehold apartment up to £245,000 and found one close by in Covent Garden I like with amenity areas and transport links nearby, however it only has 51 years on the lease. There is not much else in Covent Garden in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I am looking at a couple of flats in Covent Garden which have in the region of forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Covent Garden is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of purchasers and mortgage companies, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Covent Garden conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Following years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Covent Garden. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the sum to be paid.
An example of a Freehold Enfranchisement case for a Covent Garden premises is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case was in relation to 1 flat. The remaining number of years on the lease was 73.26 years.