I plan on acquiring an apartment in Kingsland. My property lawyer is not listed on the bank conveyancing panel. Can I still continue with my Kingsland conveyancing solicitor even though they are not on the lender approved list?
You have a couple of choices available to you here
- Carry on with your preferred Kingsland lawyer but your mortgage company will no doubt instruct a conveyancer on their conveyancing panel. This will result in additional cost together with probable interruption.
- Choose a new property lawyer to act in the purchase, making sure they are on the bank conveyancing panel.
- Convince your property lawyer to do everything possible to join the lender’s conveyancing panel
At what point can the exchange of contracts occur in domestic conveyancing in Kingsland and do I need to attend the lawyers office?
Where you are round the corner to our conveyancing solicitors in Kingsland you are welcome to attend to sign contracts. That being said, the firms we work with supply a nationwide conveyancing service and provide as equally diligent and professional a job for you when communicating with you digitally. The executing of the property agreement is not when everything is set in stone. A signed contract simply enables the firm to address the formalities when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Kingsland)to be in the office available at the end of the phone to exchange contracts.
I happen to be the only recipient of my late father’s will with all property in now in my sole name, including the house in Kingsland. Conveyancing formalities meant that the Land Registry date was in October. I want to move. I do know about the CML 6 month 'rule', meaning my property ownership may be treated the same way as if I'd bought the property in October. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. Some banks would take a practical view as this obligation primarily exists to pick up on subsales or the quick reselling of properties.
Is it the case that all Kingsland solicitor practices on the TSB conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the TSB conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Many banks do allow licenced conveyancers on their panel and in such a situation the practice would be governed by the CLC.
The mortgage over my property is with Coventry BS for my property in Kingsland. Conveyancing was finalised 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Coventry BS?
Coventry BS must be informed of your intention before letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. You need not do this via a Coventry BS conveyancing panel solicitor.
Various online forums that I have visited warn that are the primary reason for delay in Kingsland house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of holding up conveyancing in Kingsland.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Kingsland. Conveyancing is a frightening process 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 conveyancing.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Kingsland
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are surveyor prepared. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I own a leasehold flat in Kingsland. Conveyancing and Skipton Building Society mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Kingsland who previously acted has long since retired. Any advice?
First contact HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Kingsland conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the proprietor of a two-bedroom flat in Kingsland. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
Most certainly. We can put you in touch with a Kingsland conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Kingsland residence is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case related to 1 flat. The unexpired residue of the current lease was 80.5 years.