Completed the sale of my flat in Kilburn Park last January but our buyer keeps e-mailing me to say his lawyer is waiting to hear from mine. What should have happened now that I have sold?
Post completion of your house sale your conveyancer should forward the transfer deeds and all supplemental paperwork to the purchaser's lawyers. If applicable, your solicitor should also confirm that the home loan has been repaid to the purchasers solicitors. There are no post completion procedures unique to conveyancing in Kilburn Park.
I am considering applying for a Bank of Ireland mortgage for purchase of a new build (under development) in Kilburn Park with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Bank of Ireland ?
There is nothing to stop you using your solicitor, but Bank of Ireland will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
three months have elapsed since my purchase conveyancing in Kilburn Park completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Kilburn Park differ for newly converted properties?
Most buyers of new build or newly converted property in Kilburn Park approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is completed. This is because builders in Kilburn Park 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 conveyancers 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 Kilburn Park or who has acted in the same development.
I opted to have a survey carried out on a house in Kilburn Park before appointing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies will refuse to give a mortgage on this type of property.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Kilburn Park. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Kilburn Park to see if the conveyancing costs will increase in light of this.
Can you provide any top tips for leasehold conveyancing in Kilburn Park from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Kilburn Park can be bypassed if you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers’ solicitors. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Obtaining a duplicate share certificate can be a time consuming formality and frustrates many a Kilburn Park conveyancing deal. Where a duplicate share is needed, you should approach the company officers or managing agents (where applicable) for this as soon as possible. If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing. If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Kilburn Park state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord consenting to such works. Should you dont have the paperwork to hand you should not communicate with the landlord without checking with your lawyer in advance.
I own a basement flat in Kilburn Park. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to decide the premium.
An example of a Freehold Enfranchisement case for a Kilburn Park residence 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 related to 2 flats. The unexpired term as at the valuation date was 70.02 years.