Just been in touch with my conveyancing solicitor in Knightsbridge who acted for me two years ago and wanted a conveyancing costs illustration based on an identical type of home move (a leasehold premises and a freehold premises) of similar values with a home loan from Barnsley Building Society. It looks as though am now being charged double. Am I right to be tempted to shop around for an alternative conveyancer?
The estimate does seem a little steep. If you shop around you may be able to trim some of the cost by as much as £125. On the other hand, if you were satisfied with the service the firm offered you couldlive to regret opting for an an unknown solicitor. If is important to be sure the solicitor can represent Barnsley Building Society. Do use our search tool to locate a Knightsbridge conveyancing firm on the Barnsley Building Society approved list of lawyers, which can often include conveyancing solicitors in Knightsbridge.
It is 10 years ago since I acquired my home in Knightsbridge. Conveyancing lawyers have recently been retained on the sale but I can't locate my title documents. Is this a problem?
You need not be too concerned. Firstly the deeds may be retained by the lender or they may be in the possession of the conveyancers who oversaw your purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring up to date copy of the land registers. Almost all conveyancing in Knightsbridge relates to registered property but in the rare situation where your home is not registered it adds to the complexity but is not insurmountable.
I am buying a garden flat in Knightsbridge. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Knightsbridge you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Knightsbridge.
Should our lawyer be raising enquiries concerning flooding as part of the conveyancing in Knightsbridge.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Knightsbridge. Some people will purchase a property in Knightsbridge, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, but there are a numerous searches that can be undertaken by the buyer or by their solicitors which should give them a better understanding of the risks in Knightsbridge. The conventional set of information sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a standard question of the seller to find out if the premises has ever been flooded. If the property has been flooded in past and is not disclosed by the owner, then a purchaser may commence a compensation claim as a result of such an misleading reply. A buyer’s lawyers should also commission an enviro report. This should indicate if there is any known flood risk. If so, additional investigations should be carried out.
I'm purchasing my first flat in Knightsbridge benefiting from help to buy. The builders refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not inform my conveyancer about this side-deal as it may adversely affect my mortgage with The Mortgage Works. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My husband and I may need to rent out our Knightsbridge basement flat for a while due to a career opportunity. We instructed a Knightsbridge conveyancing practice in 2004 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Knightsbridge do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I am the registered owner of a two-bedroom flat in Knightsbridge. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
if there is a missing freeholder or where there is disagreement about what the lease extension should cost, 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 sum to be paid.
An example of a Lease Extension matter before the tribunal for a Knightsbridge premises is Flat 3 47 Cadogan Square in December 2010. the Tribunal determined that the premium payable to the landord by the leaseholder for the lease extension was £732,935 This case affected 1 flat. The unexpired term as at the valuation date was 13.33 years.