Is the fact that my conveyancer in North Kensington is not identified on my bank's solicitor panel that there is a problem with the standard of the firm’s work?
That would most likely be an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the North Kensington conveyancing firm and ask them why they are no longer on the approved list for your bank.
Our North Kensington lawyer has uncovered a difference when comparing the information in the home valuation survey and what is in the legal papers for the property. My lawyer has advised that he is duty bound to ensure that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action correct?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I own a freehold residence in North Kensington yet pay rent, why is this and what is this?
It’s unusual for properties in North Kensington and has limited impact for conveyancing in North Kensington but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I have Fifty Six years unexpired on my lease and need a lease extension for my flat in North Kensington. Conveyancing solicitors on the Bank of Ireland panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 14/5/2025 the requirements read as follows :
Should our lawyer be asking questions regarding flooding during the conveyancing in North Kensington.
Flooding is a growing risk for solicitors dealing with homes in North Kensington. Plenty of people will buy a house in North Kensington, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a number of checks that may be undertaken by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in North Kensington. The conventional set of property information forms sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to find out whether the property has historically flooded. In the event that the property has been flooded in past which is not notified by the seller, then a buyer may bring a claim for damages stemming from an incorrect reply. The purchaser’s conveyancers should also commission an enviro report. This should disclose if there is any known flood risk. If so, additional inquiries will need to be made.
I have just started marketing my 2 bed flat in North Kensington. Conveyancing lawyers have not yet been instructed, but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?
It best that you clear the maintenance contribution as normal because all ground rent and service payments should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Despite our best efforts, we have been unsuccessful in negotiating a lease extension in North Kensington. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee 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 premium.
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 number of years remaining on the existing lease(s) was 37.79 years.