Me and my partner are planning to acquire a 3 bedroom apartment in St Pancras with a mortgage. We have a St Pancras solicitor, however the mortgage company advise he's not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our St Pancras conveyancer as well as pay for one of their panel firms to act for them. This feels very unfair; can we not insist that the lender use our St Pancras conveyancer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your St Pancras conveyancing lawyer to apply to be on the conveyancing panel.
We were just about to exchange contracts for a garden flat in St Pancras. We have hit a stumbling block. The mortgage offer with Aldermore runs out on 23/2/2026 but the owners are putting forward a completion date of 25/2/2026. Is it possible to prolong the mortgage expiry date?
The person best placed to address this concern is your conveyancer who will hopefully assess whether he or she is better off negotiating with the lender, owner’s solicitors, property agents or conceivably all parties taking into account the history of your house move to date.
I purchased a freehold property in St Pancras yet pay rent, why is this and what is this?
It’s unusual for properties in St Pancras and has limited impact for conveyancing in St Pancras but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
How does conveyancing in St Pancras differ for newly converted properties?
Most buyers of new build property in St Pancras approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is completed. This is because house builders in St Pancras typically purchase 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 accustomed to new build conveyancing in St Pancras or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a house in St Pancras in advance of retaining conveyancers. I have been informed that there is a flying freehold element to the house. My surveyor advised that some banks may refuse to grant a loan on such a house.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in St Pancras. Conveyancing will be smoother if you use a solicitor in St Pancras especially if they are acquainted with such properties in St Pancras.
Can you offer any advice when it comes to finding a St Pancras conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a St Pancras conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with two or three firms including non St Pancras conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be useful:
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How familiar is the firm with lease extension legislation? How many lease extensions have they completed in St Pancras in the last 12 months?
Having spent years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in St Pancras. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We are happy to put you in touch with a St Pancras conveyancing firm who can help.
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 related to 1 flat. The remaining number of years on the lease was 66.8 years.