At what point can the exchange of contracts occur in sale conveyancing in Belgravia and am I required to be at the conveyancers branch?
Where you are local to our conveyancing solicitors in Belgravia you are welcome to attend to sign documents. However, the law practices we work with offer countrywide coverage for conveyancing and provide as equally comprehensive and professional a job for you when communicating with you by post or email. The executing of the contract is not when everything is set in stone. Signing on the dotted line simply enables the conveyancer to officially exchange at the appropriate time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Belgravia)to be in the office at the appropriate time.
The Belgravia conveyancing firm that I recently instructed on my house acquisition in Belgravia have without warning closed. I chose them because I had to have a lawyer on the Lloyds conveyancing panel and my preferred Belgravia lawyer was not. I wrote them a cheque for two hundred pounds in advance. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Lloyds conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
I got the keys to my house on 14 April and my personal details are still not registered. Need I be worried? My conveyancing solicitor in Belgravia advises it would be formalised inside ten days. Are transfers in Belgravia uniquely lengthy to register?
As far as conveyancing in Belgravia is concerned, registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timeframes can adjust subject to who lodges the application, whether there are errors and whether the Land registry communicate with any interested persons or bodies. As of today approximately 80% of submission are fully addressed in less than three weeks but some can be subject to protracted delays. Registration is effected after the new owner has moved in to the property therefore post completion formalities is not typically an essential issue but where there is a degree of urgency associated with the registration then you or your solicitor could speak with the land registry and explain the circumstances.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one round the corner in Belgravia I like with amenity areas and railway links nearby, however it only has 49 years unexpired on the lease. There is not much else in Belgravia in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage that many years may be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
My husband and I are new on the property ladder - agreed a price, but the estate agent told us that the vendor will only proceed if we instruct their recommended solicitors as they want a ‘quick sale’. My instinct tells me that we should use a high street solicitor accustomed to conveyancing in Belgravia
It is unlikely the vendors are behind this. If they desire ‘a quick sale', alienating a serious purchaser is not the way to achieve this. Avoid the agents and go straight to the owners and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you are going to use your preferred Belgravia conveyancing firm - as opposed tothe ones that will earn the negotiator at the agency a commission or achieve conveyancing thresholds demanded by HQ.
I am on look out for some leasehold conveyancing in Belgravia. Before I get started I would like to find out the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Belgravia - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have given up trying to reach an agreement for a lease extension in Belgravia. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We can put you in touch with a Belgravia conveyancing firm who can help.
An example of a Lease Extension case for a Belgravia residence is Flat 3 47 Cadogan Square in December 2010. the Tribunal determined that the premium payable to the landord by the leaseholder for the lease extension was £732,935 This case related to 1 flat. The unexpired residue of the current lease was 13.33 years.