We are getting closer to an exchange on a flat in West Kensington and my parents have sent the exchange deposit to my solicitor. I am now informed that as the deposit has been received from someone other than me my conveyancer needs to make a notification to my mortgage company. Apparently, 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 advised the lender about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
The conveyancer is legally required to clarify with lender to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I am the registered owner of a freehold property in West Kensington but still charged rent, why is this and what is this?
It is rare for properties in West Kensington and has limited impact for conveyancing in West Kensington 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I am buying a end of terrace house in West Kensington. The intention is to carry out a loft conversion at the property.Will the conveyancing process include enquiries to see if these alterations are allowed?
Your conveyancer will review the deeds as conveyancing in West Kensington will occasionally identify restrictions in the title documents which prohibit certain changes or need the consent of a 3rd party. Many works need local authority planning consent and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
Completion of my remortgage has taken place for my property in West Kensington. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Principality have agreed my mortgage in principle, my bid on a property in West Kensington has been agreed to, now what?
Your estate agent will wish to know who your solicitors are (make sure the lawyers are on the bank’s approved list). Call up Principality or your financial adviser and finish off any appropriate paperwork. Principality will appoint a valuer who will get in touch with the estate agent or vendor to schedule a time for the valuation to take place. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Principality will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in West Kensington.
I opted to have a survey carried out on a house in West Kensington ahead of appointing solicitors. I have been informed that there is a flying freehold element to the house. My surveyor advised that some lenders tend not grant a mortgage on this type of premises.
It varies from the lender to lender. HSBC has different instructions from Nationwide. Should you wish to call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in West Kensington. Conveyancing may be slightly more expensive based on your lender's requirements.
How easy is it to use your search app to find a conveyancing solicitor in West Kensington on the panel for my lender?
1st choose a bank such as Halifax, Skipton Building Society or Britannia then specify your preferred area such as West Kensington. Conveyancing organisations in West Kensington and nationally will then be identified.
Following years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in West Kensington. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We are happy to put you in touch with a West Kensington conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a West Kensington property is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case was in relation to 1 flat. The unexpired lease term was 37.79 years.
What makes a West Kensington lease unacceptable for security purposes?
Leasehold conveyancing in West Kensington is not unique. Most leases are individual and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
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A provision for the recovery of money spent for the benefit of another party. A provision to repair to or maintain elements of the premises
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Leeds Building Society, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.