We were about to instruct a conveyancing solicitor in South Kensington found using your comparison tool but stumbled across alternative quotes via the web seem less pricey – why is this?
You can find many firms of conveyancing organisations advertising self styled cut-price conveyancing, unfortunately it’s common in such cases for additionalcharges result in the completion invoice being escalated. Solicitors are duty bound to ensure costs outlined in terms of engagement should be transparent and reasonable raised The law firms that we list for conveyancing in South Kensington clearly state all charges for a domestic conveyancing case.
The South Kensington conveyancing solicitors that I appointed last week on my house acquisition in South Kensington have suddenly closed. They were on acting for me because I needed a firm on the Leeds Building Society conveyancing panel and my previous South Kensington lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will 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 Leeds Building Society 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 assist.
We are due to move home in April. Will my conveyancing solicitor communicate with the removal company on the day of completion. Incidentally, can you put forward a removal company in South Kensington. Conveyancing firm was chosen before I stumbled across this website.
On the afternoon of completion you will need to collect the keys from your estate agent but this should only take place after the vendors lawyers inform the agent that they have the completion monies and the keys can be passed over. After that you can advise the removal company that you are ready to move in. As a matter of policy we do not recommend a specific removal organisation but can assist you in finding a conveyancing in South Kensington or a firm that specialises in conveyancing in South Kensington.
I am expecting a DIP from Lloyds this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Lloyds recommend any South Kensington solicitors on the Lloyds conveyancing panel, or is it better to find our own lawyer?
You will need to appoint South Kensington solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my South Kensington building society branch on numerous occasions and was told they are content with the situation and they would lend. My South Kensington conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Your conveyancer has to comply with the CML Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Are there restrictive covenants that are commonly identified during conveyancing in South Kensington?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in South Kensington. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in South Kensington differ for newly converted properties?
Most buyers of new build property in South Kensington approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in South Kensington usually purchase the land, 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 property lawyers 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.
Do you have any top tips for leasehold conveyancing in South Kensington from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in South Kensington can be bypassed if you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ representatives. If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unsettled. Many landlords or Management Companies in South Kensington charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in South Kensington. If you have the benefit of shareholding in the freehold, you should make sure that you have the original share certificate. Arranging a re-issued share certificate is often a lengthy formality and frustrates many a South Kensington conveyancing transaction. Where a duplicate share is required, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.
I own a ground floor flat in South Kensington. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
if there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to arrive at the price payable.
An example of a Lease Extension case for a South Kensington flat 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 term as at the valuation date was 51.93 years.