Can you help? My Paddington lawyer is assuring me that he has toorder Paddington conveyancing searches asthe firm are on the Lloydssolicitor panel. Do I not have a choice here?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with a mortgage company your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the CML Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Paddington conveyancing searches.
Are the Paddington conveyancing solicitors identified as being on the Barclays conveyancing panel, together with their details provided by Barclays?
Paddington conveyancing firms themselves provide us confirmation that they are on the Barclays conveyancing panel as opposed to being supplied with a list from Barclays directly.
I have been told that property searches are a common cause of delay in Paddington house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Paddington.
Me and my brother have a semi-detached Georgian house in Paddington. Conveyancing solicitor acted for me and Aldermore. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold with the matching address. Is it worth asking Aldermore to clarify?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Paddington and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing solicitor who conducted the work.
I am looking for a leasehold apartment up to £195,000 and identified one round the corner in Paddington I like with open areas and transport links in the vicinity, however it's only got 49 years unexpired on the lease. I can't really find anything else in Paddington in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage the shortness of the lease may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
Back In 2001, I bought a leasehold house in Paddington. Conveyancing and Nationwide Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Paddington 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 in fact the new freeholder. It is not necessary to instruct a Paddington conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have had difficulty in trying to purchase the freehold in Paddington. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We can put you in touch with a Paddington conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Paddington premises 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 related to 2 flats. The unexpired lease term was 24.02 years.