I am in the process of selling my apartment in King's Cross and the EA has just telephoned to warn that the buyers are swapping solicitor. The reason given is that the bank will only deal with property lawyers on their conveyancing panel. Why would a big named mortgage company only engage with specific lawyers rather the firm that they want to appoint for their conveyancing in King's Cross ?
Banks have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lending institutions point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any sway in the decision.
My partner and I are refinancing our maisonette in King's Cross with Nationwide. We have a son 18 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this document specific to the Nationwide conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Nationwide. This is solely used to protect Nationwide if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Nationwide had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Can your site be used to find a Conveyancing solicitor in King's Cross even where I’m not buying or selling a house, for instance if I want to acquire an office in King's Cross with a loan from Accord Mortgages Ltd?
Our search tool is primarily used to select domestic conveyancing solicitors in King's Cross but we have listed towards the end of this page a selection of King's Cross commercial conveyancing firms. You will need to make contact with the solicitors directly to check if they can also act for Accord Mortgages Ltd
My relative recommended that where I am buying in King's Cross I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard King's Cross conveyancing searches. It is not a small report of more than thirty pages, listing and setting out important information about King's Cross around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, King's Cross Education with maps and statistics, Local Amenities and other useful information regarding King's Cross.
Due to sign contracts shortly on a basement flat in King's Cross. Conveyancing lawyers assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in King's Cross should include some of the following:
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You should know if the lease permits you to add or improve aspects of the property- you must be made aware as to whether it applies to all alterations or just structural alteration, and whether licences for alterations is mandated necessary Specifying your rights in relation to common areas in the block.For example, does the lease grant a right of way over an accessway or staircase? Are you allowed to have a pet in the flat? Rent payments - what is due and what the invoice dates are, and be on notice if this will change in the future The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided.
I have had difficulty in trying to purchase the freehold in King's Cross. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a King's Cross conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a King's Cross residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The unexpired residue of the current lease was 66.8 years.
I'm purchasing a apartment in King's Cross. I have found my conveyancer's company on the CLC list, but I can't find my conveyancer's name as listed on the regulator's website. Should I be concerned?
Not all staff in the company must be listed by the regulator. As long there is someone qualified to 'oversee' the work, the actual day-to-day activity can be conducted by unqualified staff.