In what way does my ID and proof of funds have anything to do with my conveyancing in Kentish Town? What am I being asked for?
In order to comply with Money Laundering Regulations any Kentish Town conveyancing firm will require proof of identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account evidencing where you live.
In accordance with Money Laundering Regulations, property lawyers are obliged by law to check not simply the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. Refusal to disclose this may lead to your conveyancer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to notify the relevant authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
We had appointed conveyancing lawyers located in Kentish Town on the Leeds Building Society solicitor approved list. They have just billed me a separate fee for dealing with the Leeds Building Society mortgage. Is this an additional conveyancing fee specified by Leeds Building Society?
Provided it is contained in their Terms of Engagement or estimate then yes your solicitor may levy a fee for this. This charge is not set by Leeds Building Society but by your Kentish Town property lawyer. Plenty of firms on the Leeds Building Society panel will charge ’dealing with mortgage’ fee but plenty of firms incorporate it on their overall fee.
We have agreed to purchase a house in Kentish Town. A rare aspect is that the roof has a solar panel. Clydesdale have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Clydesdale your lawyer must follow the conveyancing instructions contained in Part two of UK Finance Lenders’ Handbook for Clydesdale. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Clydesdale where a lease does not comply with these conditions. The specifications relate to the installation of panels on properties nationwide and is not limited to Kentish Town.
I have decided to exercise my right to buy my property in Kentish Town off the council. I have a mortgage agreed with Kent Reliance. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Kent Reliance, you will need to appoint a solicitor on the Kent Reliance conveyancing panel.
Me and my brother purchased a 4 bedroom Victorian property in Kentish Town. Conveyancing solicitor represented me and Barclays Direct. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold with the exact same property. Is it worth asking Barclays Direct to clarify?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Kentish Town and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing practitioner who conducted the conveyancing.
How does conveyancing in Kentish Town differ for newly converted properties?
Most buyers of new build premises in Kentish Town come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in Kentish Town usually acquire the land, 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 conveyancing solicitors 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 used to new build conveyancing in Kentish Town or who has acted in the same development.
We're FTB’s - agreed a price, yet the agent informed us that the owners will only issue a contract if we use their preferred conveyancers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family conveyancer who is familiar with conveyancing in Kentish Town
It is unlikely the sellers are driving this. If they want ‘a quick sale', taking such a hostile approach to a genuine purchaser is counter productive. Try to communicate with the sellers directly and make sure they comprehend that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you will continue to instruct your preferred Kentish Town conveyancing lawyers - as opposed tothose that will give the estate agent a introducer fee or meet his conveyancing figures demanded by head office.
Having checked my lease I have discovered that there are only Sixty One years unexpired on my lease in Kentish Town. I need to extend my lease but my landlord is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the lessor. For most situations an enquiry agent may be useful to carry out a search and prepare an expert document which can be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court covering Kentish Town.
I inherited a second floor flat in Kentish Town. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
in cases where there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to make a decision on the premium.
An example of a Lease Extension decision for a Kentish Town residence 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 was in relation to 1 flat. The remaining number of years on the lease was 64.77 years.