I have been told by my lawyer that chancel insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Marylebone?
The appropriate level of chancel indemnity insurance depends on who your lender is. It would differ for example between Lloyds TSB Bank and Barnsley Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
Are all Marylebone Conveyancing Quality Solicitors on the Co-operative conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
I am due to exchange contracts on my house. I had a double glazing fitted in April 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, TSB are being pedantic. The Marylebone solicitor who is on the TSB conveyancing panel is recommending indemnity insurance as a solution but TSB are requiring a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Marylebone. 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 should expect your new-build leasehold conveyancing in Marylebone
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I am looking for a flat up to £195,000 and identified one close by in Marylebone I like with open areas and transport links in the vicinity, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Marylebone for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage that many years will be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
As co-executor for the estate of my uncle I am disposing of a property in Cardiff but live in Marylebone. My solicitor (who is 235 kilometers from meneeds me to execute a statutory declaration before completion. Could you suggest a conveyancing solicitor in Marylebone to attest this legal document for me?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are based in Marylebone
All being well we will complete the sale of our £175,000 flat in Marylebone in 10 days. The management company has quoted £420 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Marylebone?
Marylebone conveyancing on leasehold apartments usually involves the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to assist. They may charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
After years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Marylebone. Can we issue an application to the Residential Property Tribunal Service?
if there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the price.
An example of a Lease Extension matter before the tribunal for a Marylebone property is Flats 37 & 39 88/90 Portland Place in December 2010. The Tribunal determined that the premium payable for the lease extensions in respect of these two flats is as follows:- For Flat 37, the sum of £385,230.00 For Flat 39, the sum of £436,780.00 This case affected 2 flats. The number of years remaining on the existing lease(s) was 24.02 years.
I require the services of a lender panel solicitor in Marylebone. Could you help me?
Unfortunately it’s not apparent why you need a Marylebone panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the lender to find out which solicitors in Marylebone are on their panel . If you do find such a firm in Marylebone not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site