I am need of leasehold conveyancing for a flat in a relatively new development (6 years old) in St James's. 95% of the properties are already sold. Do I need carry out the neighbourhood searches for my conveyancing in St James's?
You are taking a significant risk in refusing to carrying out St James's conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would seriously advise in no uncertain terms that you have them. If time pressures and price are top of your concerns you should consider with your conveyancer about the viability of search insurance
In what way does my ID and proof of funds have anything to do with my conveyancing in St James's? What am I being asked for?
In order to comply with Money Laundering Regulations any St James's conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancers are obliged by law to validate not just the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this may lead to your solicitor cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to inform the relevant authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
I am purchasing my first flat in St James's benefiting from help to buy. The builders refused to budge the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not reveal to my solicitor about the extras as it could put at risk my loan with HSBC Bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
How simple is it to switch conveyancer as I have to find a firm on the Virgin Money conveyancing panel. I was using a family conveyancing solicitor in St James's round the corner but he is not approved by Virgin Money
It would be our pleasure to assist you select a conveyancing solicitor in St James's on the Virgin Money panel. Please note that the conveyancers that we list do not pay us fee if you instruct them and are registered with the Solicitors Regulation Authority who oversee all conveyancing solicitors in St James's. In utilising the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in St James's.
Can you offer any advice when it comes to finding a St James's conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a St James's conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non St James's conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be helpful:
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How experienced is the practice with lease extension legislation? What are the charges for lease extension work?
I inherited a basement flat in St James's. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Where there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to arrive at the price payable.
An example of a Freehold Enfranchisement case 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 affected 1 flat. The unexpired residue of the current lease was 73.26 years.
My partner and I have recently had an offer accepted on our first house in St James's, and need to get solicitors appointed. I have used the numerous comparison tools and the fee estimates are from all across the the UK. Is it important to have a St James's property lawyer local to your prospective house? I am fine to do all the communicating electronically, but I am thinking at some point we will need to physically go into the solicitor's office to sign papers?
The conveyancer does not need to be in St James's, but opting for local means that you have the option to go in if required, for instance, if a signature is immediately necessary. In addition, a St James's solicitor is likely to be familiar with local agents and (if the vendor has chosen a local solicitor) with them, which should help keep things moving faster.