Unfortunately I am unable to travel far from Kilburn Park. Is there a reason why all Kilburn Park solicitors aren't included on all bank panels?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The dismissal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. It led to lenders pruning a number of firms from their panel of approved conveyancing practitioners .
Completed the sale of my flat in Kilburn Park last March yet the purchaser is texting daily to moan that his conveyancer needs to hear from mine. What should my lawyer have done following completion?
After completion of your house sale your conveyancer should send the transfer documentation and all additional paperwork to the buyer’s lawyers. Depending on the transaction, your solicitor must also evidence that the home loan has been repaid to the purchasers conveyancers. There is unlikely to be post completion tasks specific conveyancing in Kilburn Park.
Is it the case that all Kilburn Park CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing panel?
It is true that some lenders now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Kilburn Park lawyer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Kilburn Park building society branch on a couple of occasions and was informed it wasn't a problem and they will lend. My Kilburn Park conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. I simply don't know who is right.
Provided that the solicitor is on the lender approved list, she or he must adhere to the Council of Mortgage Lenders’ Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am buying 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.
Here are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Kilburn Park
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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? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. 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.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a quick, chain free conveyancing. Kilburn Park is where the house is located. What do you suggest?
Flying freeholds in Kilburn Park are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kilburn Park you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kilburn Park may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Can you offer any advice when it comes to choosing a Kilburn Park conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Kilburn Park conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Kilburn Park conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:
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If they are not ALEP accredited then why not? Can they put you in touch with clients in Kilburn Park who can give a testimonial?
Having spent months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Kilburn Park. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the LVT to decide the price payable.
An example of a Freehold Enfranchisement decision for a Kilburn Park premises is 4 & 4A Charteris Road in June 2009. the Tribunal held that the price to be paid for the enfranchisement of 4/4a Charteris Road to be £15,510 for at 4and £15,694 for at 4a This case was in relation to 2 flats. The unexpired residue of the current lease was 70.02 years.