Finally the sale completed on my house in Knightsbridge last October but my buyer keeps e-mailing me to moan that his lawyer is waiting to hear from mine. What are the post completion sale formalities following completion?
After completion of your house sale your conveyancer is obliged to forward the transfer deeds and all additional paperwork to the buyer’s lawyers. Where appropriate, your lawyer must also send confirmation that the legal charge in favour of the lender has been redeemed to the purchasers lawyers. There are no post completion tasks just for conveyancing in Knightsbridge.
What is your number one tip for choosing a conveyancing solicitor in Knightsbridge
Do not opt for the cheapest Knightsbridge conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We are getting a further advance on our home loan from Kent Reliance as we intend to conduct alterations to our house in Knightsbridge. Do we need to select a nearby Knightsbridge solicitor on the Kent Reliance conveyancing panel to handle the legals?
Kent Reliance would not normally appoint a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance conveyancing panel.
Our offer on a property in Knightsbridge has been agreed to, but there is a chain. The sellers have put an offer on on an apartment, however it’s not yet agreed to, and have viewings of other flats booked. I have chosen a local conveyancing solicitor in Knightsbridge. What should be my next step? When do I get the mortgage application with Principality started?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then valuation, Knightsbridge conveyancing search fees, etc). First, you should ensure that your lawyer is on the Principality approved list. As to the subsequent steps this very much depends on the uniqueness of your transaction, motivation for this property and on the state of the market. In a hot market many buyers would apply for the mortgage with Principality and arrange for the valuation and only if it was satisfactory would they ask their solicitor to press on with the conveyancing in Knightsbridge.
I require expedited conveyancing in Knightsbridge as I have pressure to complete inside 2 weeks. Luckily I do not require a mortgage. Is it possible to escape the need for conveyancing searches to save money and time?
As you are not obtaining a home loan you have the choice not to have searches conducted although no conveyancer would suggest that you don't. With lots of history conveyancing in Knightsbridge the following are instances of what can show up and therefore impact future mortgageability: Enforcement Notices, Outstanding Fees, Overdue Grants, Road Schemes,...
Are there restrictive covenants that are commonly picked up during conveyancing in Knightsbridge?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Knightsbridge. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I own a leasehold flat in Knightsbridge. Conveyancing and Lloyds TSB Bank mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Knightsbridge who acted for me is not around. Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Knightsbridge conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have given up trying to purchase the freehold in Knightsbridge. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the price.
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.
My partner and I are buying a studio flat in Knightsbridge. At the time of instructing our property lawyer, we were told they were on all major UK bank panels. Our mortgage broker contacted us just now to say that they don't appear to be on the Kent Reliance approved list. Were it to be true, what should we do? Should we just find a new conveyancer that is on their approved list or should we pay for separate representation, with Kent Reliance selecting their own preferred property lawyer.
Where you are buying a property requiring a mortgage it is normal for the purchaser’s lawyers to also represent the mortgage company. In order to act for a bank or building society a property lawyer has to be on that lender's list of approved lawyers. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict conditions which the lawyer has to meet. Some mortgage companies now insist their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact Kent Reliance to discover if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on Kent Reliance's conveyancing panel and you may continue to use your own Knightsbridge solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another conveyancing practitioner into the equation.