I am looking to buy a flat and need a conveyancing solicitor in North Kensington who is on the Platform Home Loans Ltd approved. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Platform Home Loans Ltd in certain locations such as North Kensington. We dont recommend any particular firm.
2 months have gone by following my purchase conveyancing in North Kensington completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Over the last few months I have been searching for a flat up to £305k and identified one near me in North Kensington I like with a park and transport links nearby, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in North Kensington in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you require a home loan the remaining unexpired lease term may be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you could 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 with a zero ground rent applied. You should consult your conveyancing lawyer about this.
Hoping to buy a property located in North Kensington and I am already nervous. I couldn't find anything specific about North Kensington. Conveyancing will be needed in due course but do you know about the North Kensington area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at North Kensington. In the meantime here are some basic statistics that we found
My husband and I are new on the property ladder - agreed a price, yet the estate agent advised that the owners will only go ahead if we instruct the agent's chosen conveyancers as they need a ‘quick sale’. My instinct tells me that we should use a high street solicitor with experience of conveyancing in North Kensington
It is improbable the vendors are behind this. Should the vendor want ‘a quick sale', taking such a hostile approach to a serious purchaser is going to damage their objectives. Try to communicate with the vendors directly and make sure they comprehend that (a)you are serious buyers (b)you are ready to progress, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)but you will continue to appoint your preferred North Kensington conveyancing lawyers - rather thanthose that will earn their estate agent a commission or hit his conveyancing figures demanded by senior management.
I am attracted to a two flats in North Kensington both have approximately fifty years remaining on the leases. Will this present a problem?
There are no two ways about it. A leasehold flat in North Kensington is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of buyers and lenders, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with North Kensington conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a North Kensington conveyancing firm to represent me?
in cases where there is a missing landlord or if there is dispute 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 assess the premium.
An example of a Lease Extension case for a North Kensington flat 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 affected 1 flat. The unexpired term as at the valuation date was 37.79 years.