We wanted to use a conveyancing solicitor in Kensal Rise for our house move. Our financial adviser informed us that our mortgage company Birmingham Midshires won't deal with them. Why is this not regarded as unfair competition?
A decade ago most lenders had a different appetite for risk. Almost all Kensal Rise conveyancing firms would have been on most lender panels. The FSA in 2010 completed a thematic investigation into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more information from law firms relating to their operations and their employees and establishing certain criteria such a completing on a minimum number of conveyancing. Many Kensal Rise conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Kensal Rise is one of the many locations where the lawyers showing on our search results are are authorised to act for Birmingham Midshires.
The deeds to our property are lost. The conveyancers who handled the conveyancing in Kensal Rise 4 years ago have long since closed. What do I do?
As long as the title is registered the details of your ownership will be documented by HMLR under a Title Number. It is easy to perform a search at the Land Registry, identify your house and get up to date copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will also normally hold a file copy of the Registered Lease and again, a copy can be retrieved for twenty pounds.
I'm purchasing my first flat in Kensal Rise with the aid of help to buy. The developers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not inform my lawyer about the extras as it would jeopardize my loan with Birmingham Midshires. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking into buying my first house which is in Kensal Rise and I am already nervous. I couldn't find anything specific about Kensal Rise. Conveyancing will be needed in due course but do you know about the Kensal Rise area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Kensal Rise. In the meantime here are some basic statistics that we found
I am a negotiator for a long established estate agent office in Kensal Rise where we see a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Kensal Rise conveyancing firms. Can you clarify whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have had difficulty in seeking a lease extension in Kensal Rise. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Kensal Rise conveyancing firm who can help.
An example of a Lease Extension case for a Kensal Rise flat is 85A Chevening Road in August 2013. the Tribunals conclusions resulted in a payment of a premium for the new lease in the sum of £11,211 This case was in relation to 1 flat. The unexpired lease term was 84.34 years.
My aunt completed her conveyancing in Kensal Rise in 2005. She has got married, divorced and in recent months got remarried. She intends to market the house in a few months. I believe she will just be asked to supply copies of her marriage papers to the conveyancer however she is anxious it could hold up the sale of the house. Is it worth updating the Land Registry details for the house?
The is no need to bring up to date the title for the property providing you have the evidence needed to show how the name change resulted.
The purchaser’s solicitor will check the title information and ask for evidence by way of proof of the change of name for example marriage certificates.