I am expecting a mortgage with Nat West. I intend to enlist the help of a Licensed Conveyancer in St James's. Does the Nat West Solicitor panel exclude conveyancers regulated by the CLC?
The Nat West conveyancing panel is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My brother and I have just acquired a property in St James's. We have since encountered a number of problems with the property which we believe were overlooked in the conveyancing searches. Is there anything we can do? Can you clarify the nature of searches that should have been conducted as part of conveyancing in St James's?
The question is not clear as to the nature of the problems and if they are relate to conveyancing in St James's. Conveyancing searches and investigations undertaken during the buying process are designed to help avoid problems. As part of the legal transfer of property, the vendor completes a form referred to as a SPIF. If the information turns out to be inaccurate, you could possibly take legal action against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in St James's.
I'm in the throws of viewing apartments in St James's and I am now considering a potential offer. Is it too early to have a solicitor in place? I am planning to take a mortgage with Yorkshire BS.
It would be prudent to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. Given that you are getting a mortgage with Yorkshire BS, make sure you remember to check that your lawyer is on the Yorkshire BS conveyancing panel.
I have paid off my mortgage with Kent Reliance. I assume I don't need a St James's conveyancing practitioner on the Kent Reliance panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Kent Reliance mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Kent Reliance mortgage from the register. Kent Reliance, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Kent Reliance has sent the Land Registry the discharge electronically, and
- Kent Reliance has instructed the Land Registry to do so
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my St James's bank branch on various occasions and was told they are content with the situation and they will lend. My St James's conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they would not lend based on their specific requirements. I simply don't know who is right.
As long as the solicitor is on the mortgage company approved list, they must follow the Council of Mortgage Lenders’ Handbook specifications for the lender. 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
How does conveyancing in St James's differ for new build properties?
Most buyers of new build property in St James's contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is built. This is because house builders in St James's usually buy 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 used to new build conveyancing in St James's or who has acted in the same development.
I’m about to sell my basement flat in St James's. Conveyancing lawyers have not yet been instructed, however I have recently received a half-yearly maintenance charge invoice – what should I do?
The sensible thing to do is discharge the maintenance contribution as normal because all ground rent and service charges will be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a a ground floor purpose built flat in St James's. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
Where there is a missing landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the price payable.
An example of a Freehold Enfranchisement decision for a St James's property is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case was in relation to 1 flat. The remaining number of years on the lease was 73.26 years.
There are a lot of properties in St James's on unadopted roads. My husband and I are purchasing such a house. What are the advantages and disadvantages of purchasing a property on a privately owned road?
St James's conveyancing practices are familiar with conveyancing propertieson private. Your conveyancing practitioner will review the title to identify any rights or responsibilities. In many cases there is a management company (wholly owned by residents) that proprietors pay into for the upkeep of the road. Where one exists, the road should be maintained and look better than publicly maintained.