I happen to be the only beneficiary of my late mum's estate with all property in now in my sole name, including the my former home in Earls Court. The Earls Court property was put into my name in October. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership could be regarded the same way as though I had purchased the property in October. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. Some banks would take a pragmatic view as this obligation is chiefly there to capture the purchase and immediately sell or the wholesaling and assigning of property.
We are getting the release of further funds on our home loan from Co-operative as we intend to conduct renovations to our house in Earls Court. Do we need to select a bricks and mortar Earls Court solicitor on the Co-operative conveyancing panel to handle the legals?
Co-operative don't usually appoint a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative list.
I have a mortgage with HSBC for my property in Earls Court. Conveyancing was finalised a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform HSBC?
Your original mortgage agreement with HSBC will provide that you need their approval before renting your property as this is likely to be a breach of HSBC’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. You need not do this via a HSBC conveyancing panel firm.
Do commercial conveyancing searches disclose proposed roadworks that may affect a commercial land in Earls Court?
Its becoming the norm that commercial conveyancing solicitors in Earls Court will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Earls Court. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Earls Court.
For each commercial conveyancing transaction in Earls Court it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Earls Court commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Earls Court.
I used Arc property Solicitors several years ago for my conveyancing in Earls Court. Now, I need my files but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Earls Court of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
The estate agent has sent us the confirmation of our purchase of a new build flat in Earls Court. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Earls Court
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Is it simple use the search facility to choose a conveyancing lawyer in Earls Court on the panel for my lender?
First choose a mortgage company such as Birmingham Midshires, Virgin Money or Aldermore then type in your preferred area for example Earls Court. Conveyancing practices in Earls Court and across England and Wales should be identified.
I've found a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Earls Court. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
The majority of houses in Earls Court are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Earls Court so you should seriously consider looking for a Earls Court conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should appraise you on the various issues.
After months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Earls Court. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We can put you in touch with a Earls Court conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Earls Court flat is 5 Wetherby Gardens in June 2014. the Tribunal concluded that the price to be paid for the freehold of the property was £2,369,452. This case affected 5 flats. The unexpired term was 38.98 years.