Do the Building Society Association intend to launch a online directory to to identify firms on the Melton Mowbray Building Society conveyancing panel for instance in South Kensington?
Lexsure has not been advised of any intention on the part of the BSA to develop such a register.
How does conveyancing in South Kensington differ for new build properties?
Most buyers of new build property in South Kensington come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is completed. This is because house builders in South Kensington typically acquire the real estate, 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 conveyancers 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 accustomed to new build conveyancing in South Kensington or who has acted in the same development.
I have been pointed in your direction by a few selling agents in South Kensington to get a quote from a solicitor using your seach tool. What’s the financial inducement for Estate Agents to offer your services over a competitor’s?
We don’t offer any financial incentive for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
We're first time buyers - agreed a price, but the estate agent told us that the seller will only proceed if we appoint their chosen lawyers as they need a ‘quick sale’. Our preferred option is to instruct a family conveyancer who is familiar with conveyancing in South Kensington
We suspect that the owner is not behind this demand. If they want ‘a quick sale', alienating a genuine buyer is counter productive. Try to communicate with the vendors directly and explain that (a)you are serious purchasers (b)you are excited to move forward, with finances in place © you are unencumbered (d) you intend to proceed fast (e)however you are going to appoint your preferred South Kensington conveyancing solicitors - not the ones that will give their estate agent a kickback or hit his conveyancing targets pre-set by head office.
Following years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in South Kensington. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. 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 residence 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 related to 1 flat. The unexpired residue of the current lease was 51.93 years.
Are there common problems that you encounter in leases for South Kensington properties?
Leasehold conveyancing in South Kensington is not unique. Most leases are drafted differently and drafting errors can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
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Insurance obligations A provision for the recovery of money spent for the benefit of another party.
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Coventry Building Society, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.
What is the average conveyancing fee for conveyancing in South Kensington?
The average fee last year for conveyancing in South Kensington was £1,419 excluding Land Tax and HM Land Registry fees.