My partner and I are looking to buy a property in Kensal Rise and are in fact using a Kensal Rise conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Barclays have this evening contacted us to inform me that there is now an issue as our Kensal Rise conveyancer is not on their approved list of lawyers. Is this a problem?
If you are buying a property needing a mortgage it is conventional for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Kensal Rise solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Finally the sale completed on my house in Kensal Rise last June but the buyer keeps telephoning daily to say her conveyancer needs to hear from mylawyer. What are the post completion sale formalities now that I have sold?
After completion of your disposal your solicitor is duty bound to forward the transfer documentation and all supplemental paperwork to the buyer’s conveyancer. Where appropriate, your conveyancer should also confirm that the legal charge in favour of the lender has been redeemed to the buyers lawyers. There is unlikely to be post completion formalities specific conveyancing in Kensal Rise.
My wife and I own a renovated Edwardian property in Kensal Rise. Conveyancing practitioner represented me and Godiva Mortgages Ltd. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold with the exact same address. Is it worth asking Godiva Mortgages Ltd to clarify?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Kensal Rise and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing practitioner who conducted the purchase.
Just had an offer accepted on a new build flat in Kensal Rise. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Kensal Rise
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Am I right to be wary by estate agents that I am dealing with are encouraging me to use a nationwide conveyancing firm as opposed to a local Kensal Rise conveyancing practice?
As with lots of service providers, often suggestions from family and friends can be extremely useful or valuable. Yet there are many people with a vested interest in a conveyancing matter; estate agents, financial adviser and mortgage companies may suggest lawyers to retain. Sometimes the solicitors might be known to one of the organisations as being good in their field, but occasionally there may be a financial incentive behind the recommendation. You are at liberty to select your preferred conveyancer. You need to be aware that some mortgage providers have an approved list of law firms you must use for the mortgage related work in your home move.
I pay a service charge for my property in Kensal Rise. Due to redundancy and other issues I slipped behind with remittance. The freeholders agreed a settlement plan but there is still approximately £2000 outstanding as of today.
I am under pressure to sell and I am panicking this could hold me back if I have to pay off the amount due first. I'd like to sell up and subsequently pay them back with the proceeds - is this achievable?
You should clarify with the lawyer carrying out your Kensal Rise conveyancing but it may be possible to arrange for the arrears to be passed to the buyers. The final price they pay would be reduced to reflect the amount of debt they take on. They would then deal with the fees once they are the owners.