My partner and I are only a couple days away from an exchange on a house in South Kensington and my parents have sent the 10% deposit to my conveyancing practitioner. I am now advised that as the deposit has been received from someone other than me my conveyancer needs to disclose this to my lender. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the bank regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
Your lawyer is obliged to check with lender to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. South Kensington is the location of the property. Can you shed any light on this issue?
Flying freeholds in South Kensington are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside South Kensington you would need to get your solicitor to go 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 South Kensington may determine 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 premises.
How do I use your search facility to get a costs illustration from a conveyancing lawyer in South Kensington on the panel for my mortgage?
First choose a mortgage company such as Birmingham Midshires, Skipton Building Society or Platform Home Loans Ltd then specify your location for example South Kensington. Conveyancing practices in South Kensington and beyond should be shown.
My cousin has suggested that I appoint his conveyancing solicitors in South Kensington. Do I follow his guidance?
Much as we are happy to recommend a South Kensington conveyancing lawyer the ideal way to select a conveyancing lawyer is to have guidance from friends or relatives who have previously instructed the firm you're contemplating using.
Can you offer any advice when it comes to choosing a South Kensington conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a South Kensington conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with two or three firms including non South Kensington conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
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What volume of lease extensions has the firm conducted in South Kensington in the last twenty four months? How experienced is the practice with lease extension legislation?
I have given up trying to reach an agreement for a lease extension in South Kensington. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We are happy to put you in touch with a South Kensington conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a South Kensington property 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 was in relation to 1 flat. The unexpired lease term was 51.93 years.
Your search tool is useful but there are many lawyers listed near South Kensington being on the bank conveyancing panel. Can you recommend a specific firm on the conveyancing panel for our lender?
We do not recommend specific South Kensington firms as the right South Kensington conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with South Kensington knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..