Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Fitzrovia?
Two types of professional can carry out conveyancing in Fitzrovia namely licenced conveyancers or solicitors. Both professionals administer the legal services that you need to complete the sale or acquisition of property. Both are obliged to carry out Fitzrovia conveyancing on similar quality and guidelines so you may be safe in the knowledge that your conveyancing will be properly administered and that the necessary procedures will be correctly attended to.
I have a mortgage with Barclays for my property in Fitzrovia. Conveyancing was finalised some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Barclays?
Your original mortgage agreement with Barclays will provide that you need their approval before renting your property as this is likely to be a breach of Barclays’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 Barclays directly. It should not be necessary to do this via a Barclays conveyancing panel solicitor.
I can not work out if my bank requires a lease extension. I have called my Fitzrovia building society branch on numerous occasions and was told it wasn't a problem and they would lend. My Fitzrovia conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they would not lend based on their specific requirements. Who do I believe?
The property lawyer must comply with the Council of Mortgage Lenders’ Handbook section two provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
My friend recommended that where I am buying in Fitzrovia I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Fitzrovia conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Fitzrovia around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Fitzrovia Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Fitzrovia Education with maps and statistics, Local Amenities and other useful information regarding Fitzrovia.
I used Action Conveyancing several years past for my conveyancing in Fitzrovia. I now require my papers but cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Fitzrovia of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Fitzrovia differ for new build properties?
Most buyers of new build premises in Fitzrovia come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is built. This is because house builders in Fitzrovia usually 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 conveyancers 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 accustomed to new build conveyancing in Fitzrovia or who has acted in the same development.
How can the Landlord & Tenant Act 1954 affect my commercial offices in Fitzrovia and how can you help?
The particular law that you refer to gives protection to business lessees, granting the right to apply to court for a continuation of occupancy at the end of the lease term. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Fitzrovia is one of the numerous areas of the UK in which our lawyers are based
I am just shy of a 10% deposit on my apartment purchase in Fitzrovia , but I still want to proceed. Do I have options?
You can accept a smaller deposit. Most property owners will accept a lesser 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