We have rather pushy sellers who has insisted on a exclusivity contract with a non-refundable deposit two thousand pounds. Is it wise to enter into such agreements?
There are a couple of primary drawbacks with signing a lock out agreement (occasionally known as a shut-out contract) is that it takes away the focus from moving forward with the conveyancing transaction itself, so unless it requires minimal or no negotiation then it may turn out to be a cause of frustration and delay. It is not promoted amongst St Pancras conveyancing practitioners as a result. The other main negative is the extent of the remedies available - a jilted purchaser is extremely unlikely to secure injunctive relief to bar the vendor completing the sale to an alternative purchaser, so the only remedy open via the contract will be the reimbursement of wasted costs and, in rare situations, the additional payment of penalties.
It is 10 years ago since I purchased my home in St Pancras. Conveyancing lawyers have just been retained on the sale but I am unable to track down the title documents. Will this jeopardise the sale?
You need not be too concerned. Firstly the deeds may be retained by the lender or they could still be with the conveyancers who acted in the purchase. Secondly the likelihood is that the property will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers acquiring current official copies of the land registers. The vast majority of conveyancing in St Pancras involves registered property but in the rare situation where your home is not registered it adds to the complexity but is resolvable.
My wife and I purchasing a victorian detached house in St Pancras. Our aim is to an extension at the rear at the house.Will legal due diligence on the property involve enquiries to ascertain if these alterations were previously refused?
Your conveyancer will check the deeds as conveyancing in St Pancras will on occasion identify restrictions in the title documents which prevent categories of alterations or require the permission of a 3rd party. Certain works need local authority planning permissions and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be wise to check these issues with a surveyor before you commit yourself to a purchase.
Is it correct that all St Pancras CQS (Conveyancing Quality Scheme) solicitors are on the TSB conveyancing panel?
Some major lenders now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
How can we know in advance if a St Pancras conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in St Pancras obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor conducting your transaction.
I moved into my house on 9 May and my personal details are still not on the land registry website. Need I be worried? My conveyancing solicitor in St Pancras advises it should be concluded in less than a month. Are titles in St Pancras particularly slow to register?
There is nothing unique when it comes to conveyancing in St Pancras registration formalities. Rather than based on location, timeframes can vary according to who lodges the application, whether it is in order and if the Land registry need to notify any other parties. At present in the region of 80% of submission are completed in less than three weeks but some can be subject to longer hold-ups. Registration occurs once the purchaser is living at the premises so an expedited registration is not always top priority yet if there is a degree of urgency associated with the registration then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in St Pancras differ for new build properties?
Most buyers of new build property in St Pancras contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in St Pancras typically buy the real estate, 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 conveyancers 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 Pancras or who has acted in the same development.
I only have Seventy years unexpired on my flat in St Pancras. I need to get lease extension but my freeholder is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have done all that could be expected to locate the landlord. On the whole an enquiry agent may be helpful to carry out a search and to produce a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court covering St Pancras.
I have given up seeking a lease extension in St Pancras. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the premium.
An example of a Lease Extension matter before the tribunal for a St Pancras premises 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 number of years remaining on the existing lease(s) was 66.8 years.