My partner and I are getting closer to an exchange on a flat in St James's and my parents have sent the 10% deposit to my lawyer. I am now informed that as the deposit has been received from someone other than me my solicitor needs to make a notification to my bank. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your lawyer is legally required to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
This question may be naive but I am unseasoned as FTB of a two bedroom flat in St James's. Do I collect the keys to the house on the completion date from my solicitor? If this is the case, I will appoint a local conveyancing solicitor in St James's?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the vendor’s solicitors, and once they have received this, you should be called to receive the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
is it true that all St James's solicitor practices on the Skipton conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Skipton approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Many lenders do list licenced conveyancers on their panel and in that case the organisation would be regulated by the Council of Licensed Conveyancers.
I've read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local St James's solicitor - who is on the Aldermore conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your St James's postcode. As you are getting a mortgage with Aldermore, you could contact them to see if they have a list of approved surveyors in St James's.
three months have gone by following my purchase conveyancing in St James's took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build flat in St James's. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in St James's
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Please confirm the Lease plans are architect prepared. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please supply a car parking plan.
Can you provide any top tips for leasehold conveyancing in St James's from the point of view of expediting the sale process?
- Much of the delay in leasehold conveyancing in St James's can be avoided where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the buyers’ conveyancers. Many freeholders or managing agents in St James's charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in St James's. If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to unsettled. If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Obtaining a replacement share certificate can be a time consuming process and slows down many a St James's home move. If a duplicate share is required, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
I am the registered owner of a ground floor flat in St James's. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
Most certainly. We can put you in touch with a St James's conveyancing firm who can help.
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 related to 1 flat. The unexpired term as at the valuation date was 73.26 years.
What advice do you have for searching for commercial conveyancing in St James's?
First ask your friends and family who they used in the past and if they were happy with the service. Second, use a search tool on the internet for conveyancing in St James's. Telephone a couple or more firms from the list and request that they email you their conveyancing fees and speak to the lawyer who will conduct your conveyancing before you make your decision. Option 3 is to make use of this site to assist you in finding the right lawyers taking into account your unique requirements including location,speed, complexity and who the proposed lender is.Do not be fooled by lowest cost conveyancing solicitors in St James's