I have just been advised by my lender that my Kentish Town lawyer is not on the bank Solicitor panel. What can I do to be sure that this is correct?
Your first step should be to contact your Kentish Town conveyancer. It is reasonable to expect your lawyer to inform you what has happened. If they are not on the panel they may be able to suggest a Kentish Town conveyancing firm that is on the conveyancing panel for your bank.
What does my ID and proof of funds have anything to do with my conveyancing in Kentish Town? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identification documents of the potential client they are dealing with before they can accept their conveyancing retainer. The Client Care letter that you are required to sign should confirm this. Your lender will also require certain documents to be checked. Should you are unwilling to hand over identification documents, your conveyancer will not be able to take you on as a client.
I have been on the look out for a flat up to £235,500 and identified one near me in Kentish Town I like with a park and transport links in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in Kentish Town suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
We're novice buyers - agreed a price, but the property agent told us that the vendor will only go ahead if we appoint the agent's chosen lawyers as they want a ‘quick sale’. My instinct tells me that we should use a family solicitor accustomed to conveyancing in Kentish Town
It is unlikely the sellers are behind this. If they desire ‘a quick sale', alienating a serious buyer is going to damage their objectives. Speak to the vendors direct and make sure they comprehend that (a)you are serious buyers (b)you are ready to go, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you intend to appoint your preferred Kentish Town conveyancing solicitors - not the ones that will earn their negotiator at the agency a kickback or hit his conveyancing figures set by corporate headquarters.
Due to sign contracts shortly on a ground floor flat in Kentish Town. Conveyancing lawyers inform me that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Kentish Town should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? The physical ownership of the property. This might be the flat itself but might incorporate a loft or cellar if relevant. specifics of the parties to the lease, e.g. these could be the leaseholder, head lessor, freeholder You need to be told what constitutes a Nuisance as far as the lease is concerned Repair and maintenance of the flat
We have reached the end of our tether in trying to purchase the freehold in Kentish Town. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Kentish Town conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Kentish Town flat is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case affected 1 flat. The unexpired lease term was 64.77 years.
Developers have put forward a solicitor and I've obtained an estimate from them. They are nearly three hundred pounds cheaper than my family Kentish Town conveyancing practitioner. What's the catch?
Builders normally have lists of solicitors who are quick and who know the developer’s contract and conveyancer. As many developers offer an inducement to use a preferred conveyancer for this reason, any increased fees can be avoided and a developer will not put forward a conveyancing factory and run the risk of having the transaction delayed when they require an exchange inside a month. A counter-argument for not opting for the suggested lawyer is that they may be unwilling to fight for your interests for fear of alienating the sellers. If you worry that this may be the situation you should keep with your high street Kentish Town solicitor.