I am expecting a mortgage offer from Nat West. My intention is to use a Licensed Conveyancer in Kilburn Park. Does the Nat West Solicitor panel exclude conveyancers regulated by the CLC?
The Nat West approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I have given 8 weeks notice to my current landlord and must vacate my rented property in Kilburn Park by the end of next month. Conveyancing on my purchase is underway. How realistic is it to complete in 4 weeks as don't want to have to find short term accommodation?
It is unwise to provide notice on a rental unless exchange of contracts has taken place. Assuming that you have not previously done so, speak to your solicitor and ask them to they apply pressure on the other side, try to get a realistic time scale from them that everyone will work towards
About to purchase a new build flat in Kilburn Park. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Kilburn Park
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Please confirm the Lease plans are architect prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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.
Over the last few months I have been searching for a ground for flat up to £305k and found one close by in Kilburn Park I like with open areas and station in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in Kilburn Park suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
I was recommended by a few estate agents in Kilburn Park to locate a property lawyer on your site. What’s the financial incentive for Estate Agents to offer your lawyers over and above another?
We refuse to offer any commission for pointing buyers and sellers to this site. We found it would be just too difficult a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
My son is just in the process of moving home, the home loan was agreed last week in principle. When the offer was accepted on flat we rang the mortgage company to go forward with his. I was very surprised to learn that mortgage companies do not accept all property lawyer, they have to be on a list, is this correct?
Lenders normally imposes restrictions either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Kilburn Park solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.