Unfortunately I am unable to travel far from North Kensington. What is the rationale as to why all North Kensington conveyancing practitioners are not on all lender panels?
Banks normally restrict either the type or the number of conveyancing solicitors on their panel. A common example of such restriction(s) being that a organisation needs to have two or more partners. In addition to restricting the nature of firm, some lenders made a decision to restrict the size of their panel they allow to act for them. You should note that mortgage companies have no responsibility for the quality of service provided by any North Kensington property lawyer on their panel. Mortgage fraud was the key driver in the rationalisation of solicitor panels from 2008 even though there are conflicting thoughts concerning the extent of solicitor involvement in some of that fraud. Data via HM Land Registry exposes that thousands of law organisations only carry out one or two conveyances a year. Those advocating conveyancing panel consolidation ask why conveyancing firms deserve the right to be on a bank panel when clearly conveyancing is not their primary expertise?
We are a couple about to sign contracts for a property in North Kensington. We have hit a problem. Our loan offer with Virgin Money runs out on 9/3/2026 but the sellers are putting forward a completion date of 11/3/2026. Is it possible to extend the loan offer?
The person best placed to address this question is your conveyancer who will determine whether he or she is should be discussing with the lender, owner’s solicitors, property agents or indeed all parties based on the history of your conveyancing as of today.
I am purchasing a new build flat in North Kensington. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in North Kensington you will have to appoint a solicitor on your mortgage company'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 North Kensington.
I'm buying my first flat in North Kensington with a loan from Virgin Money. The builders refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The sale representative suggested that I not disclose to my conveyancer about the extras as it will put at risk my mortgage with Virgin Money. Do I keep my lawyer in the dark?.
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 CML website. CML 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.
Due to the guidance of my in-laws I had a survey completed on a house in North Kensington prior to appointing conveyancers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies may refuse to give a loan on such a home.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in North Kensington. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in North Kensington to see if the conveyancing costs will increase in light of this.
Back In 2006, I bought a leasehold house in North Kensington. Conveyancing and Skipton Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in North Kensington who previously acted has long since retired. Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a North Kensington conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a North Kensington conveyancing firm to represent me?
Absolutely. We can put you in touch with a North Kensington conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a North Kensington premises is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case related to 1 flat. The unexpired lease term was 37.79 years.