The Pimlico conveyancing lawyers that I appointed last week on my purchase in Pimlico have without warning closed. They were on acting for me because I had to have a firm on the Yorkshire BS conveyancing panel and my previous Pimlico lawyer was not. I paid them money on account. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Yorkshire BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
If you had a top tip for selecting a conveyancing solicitor in Pimlico what would it be?
It would be unwise to be seduced by the cheapest Pimlico conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
This question may be naive but I am new to the home buying as a 1st time buyer of a ground floor flat in Pimlico. Do I pick up the keys to the premises on completion from my solicitor? If this is the case, I will appoint a local conveyancing solicitor in Pimlico?
On the day of completion you will not be required to go to the conveyancers office in Pimlico. Your solicitors will arrange to send the purchase money to the owner’s lawyers, and once they have received this, you will be able to receive the keys from the selling Agents and start moving into the property. Usually this occurs early afternoon.
I happen to be the sole recipient of my late father’s will with all property in now in my sole name, including the my former home in Pimlico. Conveyancing formalities meant that the Land Registry date was in January. I plan to dispose of the property. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship may be regarded the same way as though I had purchased the property in January. Do I have to wait 6 months to sell?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How practical a view banks take of it, depend on the mortgage company as this provision principally exists to pick up on the purchase and immediately sell or the wholesaling and assigning of properties.
Should our conveyancer be raising questions concerning flooding during the conveyancing in Pimlico.
The risk of flooding is if increasing concern for lawyers dealing with homes in Pimlico. Some people will buy a house in Pimlico, completely expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, however there are a number of searches that may be initiated by the buyer or by their conveyancers which can figure out the risks in Pimlico. The standard property information forms sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a standard question of the owner to find out whether the property has historically flooded. In the event that the residence has been flooded in past which is not disclosed by the owner, then a buyer could issue a legal claim for losses resulting from an misleading reply. A purchaser’s conveyancers may also carry out an environmental search. This should disclose whether there is a recorded flood risk. If so, further investigations will need to be conducted.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Pimlico is the location of the property. What do you suggest?
Flying freeholds in Pimlico are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Pimlico you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pimlico may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
If all goes to plan we aim to complete the sale of our £325,000 maisonette in Pimlico on Thursday in a week. The management company has quoted £396 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Pimlico?
Pimlico conveyancing on leasehold flats usually necessitates the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They are at liberty to charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. 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.
I have had difficulty in trying to reach an agreement for a lease extension in Pimlico. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We can put you in touch with a Pimlico conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Pimlico residence is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case related to 2 flats. The unexpired term as at the valuation date was 56 years.
Would local authority consent be required to change a house into multiple flats in Pimlico? This has occurred to a property next door to my house in Pimlico and was unaware of the conversion until it was done.
Planning Permission yes. Building Regulations yes.