We are buying a newly constructed apartment in St Pancras and my solicitor is advising me that she has to the mortgage company to disclose incentives from the developer. The Estate Agents are hassling me to sign contracts and my preference is not to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
There is lots of information on this site concerning conveyancing in St Pancras but what is your top tip for choosing the right conveyancer in St Pancras
Do not opt for the lowest St Pancras conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
My wife and I purchasing a terrace house in St Pancras. Our aim is to carry out an extension to the side at the house.Will legal investigations on the property involve checks to ascertain if these alterations were previously refused?
Your solicitor should check the registered title as conveyancing in St Pancras can sometimes identify restrictions in the title documents which prohibit categories of alterations or need the consent of a 3rd party. Many additions call for local authority planning consent and approval in compliance with building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor before you commit yourself to a purchase.
I happen to be the only recipient of my late grandmother’s will and I have everything in my name now, including the my former home in St Pancras. Conveyancing formalities meant that the Land Registry date was in December. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship may be regarded the same way as though I had purchased the house in December. Do I have to wait 6 months to sell?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How practical a view lenders take of it, depend on the bank as this provision is chiefly there to pick up on subsales or the flipping of property.
Have purchased a a terraced house in St Pancras , What is the estimated time for the Land Registry to register the transfer to my name? My St Pancras conveyancing solicitor works at snail pace, so I want to check the registration is addressed.
As far as conveyancing in St Pancras is concerned, registration is no quicker or slower than anywhere else in the country. Rather than based on location, timeframes can vary according to the party submitting the application, whether it is in order and whether the Land registry need to notify any other parties. At present in the region of three quarters of such applications are completed in less than three weeks but occasionally there can be protracted delays. Registration occurs once the buyer is living at the premises thus 'speed' is not always primary concern but if it is urgent that the the registration takes place urgently then you or your lawyers must communicate with the Registry to express the reasoning for the application to be prioritised.
I am looking for a leasehold apartment up to £245,000 and identified one round the corner in St Pancras I like with a park and railway links in the vicinity, the downside is that it only has 51 remaining years left on the lease. There is not much else in St Pancras suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage that many years may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
What does commercial conveyancing in St Pancras cover?
St Pancras conveyancing for business premises incorporates a wide range of guidance, given by qualified solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
We are in the midst of a leasehold sale of a flat in St Pancras. Conveyancing is fine but we are being charged an extortionate amount by the landlord. To date we have paid £250 for a leasehold management information and then a further £117.20 for answers to questions supplied by the buyers solicitor.
You will not have any say over the level of the fee for this information however the average fee for the information for St Pancras leasehold property is £360. For St Pancras conveyancing transactions it is usual for the owner to cover the charges. The landlord or their agents are not duty bound to address these questions although many will be content to do so - albeit often at exorbitant prices out of proportion to the work involved. Regretfully there is no legislation that requires fixed fees for administrative tasks. Nor is there any set time frame by which they are required to supply answers.