Are the BSA planning on creating a searchable register to to identify practices on the Norwich and Peterborough Building Society conveyancing panel for instance in South Kensington?
We are not aware of any plans on the part of the BSA to promote such a search facility.
How does conveyancing in South Kensington differ for new build properties?
Most buyers of new build property in South Kensington approach us having been asked by the developer to exchange contracts and commit to the purchase even before the house is ready to move into. This is because builders in South Kensington tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in South Kensington or who has acted in the same development.
I was advised by numerous selling agents in South Kensington to choose a solicitor on your site. Is there a financial upside for Estate Agents to market your lawyers over alternative conveyancing organisations?
We refuse to offer any commission for sending work in our direction. We thought it would be too underhand a fee because a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My husband and I are first time buyers - agreed a price, yet the selling agent advised that the vendor will only proceed if we use the agent's preferred lawyers as they are insisting on an ‘expedited deal’. We would rather use a local solicitor with experience of conveyancing in South Kensington
It is highly unlikely the owners are behind this. If they want ‘a quick sale', taking such a hostile approach to a motivated buyer is counter productive. Try to communicate with the sellers directly and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you intend to appoint your preferred South Kensington conveyancing firm - as opposed tothe ones that will earn their negotiator at the agency a kickback or achieve conveyancing targets pre-set by head office.
After years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in South Kensington. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the LVT to judgment on the price.
An example of a Lease Extension matter before the tribunal for a South Kensington premises is Flat 16 21/22 Stanhope Gardens in November 2010. the Leasehold Valuation Tribunal concluded that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993, was £106,975 This case affected 1 flat. The unexpired residue of the current lease was 51.93 years.
What makes a South Kensington lease problematic?
Leasehold conveyancing in South Kensington is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
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Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.
I am buying a leasehold apartment in South Kensington. Conveyancing estimates are coming in at around £two thousand. Does that seem right?
The average fee in 2014 for conveyancing in South Kensington was just over one thousand four hundred and fifty pounds not including Stamp Duty and Land Registry fees.