Am I correct in assuming that the fact that my conveyancer in St Giles is not on my mortgage company's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
That is more than likely a wrong assumption to make. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the St Giles conveyancing firm and enquire why they are no longer on the approved list for your lender.
Can the conveyancing lawyers that you recommend conduct conveyancing in St Giles by way of an attended exchange?
We do have a number of conveyancing experts carrying out 24hr exchanges. Do e-mail us to get a conveyancing quote and details as to dates.
Is there a reason why leasehold purchase conveyancing in St Giles costs more?
The conveyancing charges on a leasehold property in St Giles is inevitably more expensive than on a freehold property. This is because there is an amount of supplemental time necessary in liaising with the freeholder and managing agents to obtain evidence about whether the rent and maintenance charges have been cleared and whether there are any significant expenditure in the foreseeable future on repairs or maintenance of the block.
The estate agent has sent us the confirmation of our purchase of a new build flat in St Giles. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in St Giles
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Due to the advice of my in-laws I had a survey completed on a property in St Giles in advance of instructing lawyers. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some lenders will not issue a loan on such a property.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. If you call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in St Giles. Conveyancing will be smoother if you use a solicitor in St Giles especially if they regularly deal with such properties in St Giles.
Having had my offer accepted I require leasehold conveyancing in St Giles. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is registered - and 99.9% are in St Giles - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a St Giles conveyancing firm to assist?
Absolutely. We are happy to put you in touch with a St Giles conveyancing firm who can help.
An example of a Lease Extension decision for a St Giles residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The unexpired term as at the valuation date was 66.8 years.