My wife and I are buying a brand new flat in South Kensington and my conveyancer is informing me that she is duty bound to the mortgage company to reveal incentives from the builder. The Estate Agents are hassling me to exchange and my preference is not to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am purchasing a new build flat in South Kensington. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in South Kensington you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in South Kensington.
I have been on the look out for a leasehold apartment up to £195,000 and found one near me in South Kensington I like with amenity areas and transport links nearby, however it's only got 61 years on the lease. There is not much else in South Kensington in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the shortness of the lease will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
How do I locate a South Kensington solicitor on the Barclays conveyancing panel? I am a keen cyclist and am happy to travel upto 10kilometers to meet the lawyer.
Feel free to make use of the tool on this page. Please choose the bank and your location and you will see a number of South Kensington conveyancing lawyers based on proximity. We have detailed some South Kensington conveyancing firms towards the end of this page and you can telephone them to verify if they are on the Barclays member panel
Back In 2006, I bought a leasehold flat in South Kensington. Conveyancing and Barnsley Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in South Kensington who previously acted has long since retired. Any advice?
First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a South Kensington conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
After months of dialogue we simply can't 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 decision 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 affected 1 flat. The number of years remaining on the existing lease(s) was 51.93 years.
Finally our conveyancing in South Kensington is completing on Friday, but the people I am buying off wishes to move out the next day at afternoon. Should I accept such a plan?
It is not possible to complete on a Saturday because the bank systems are not operating.