We see that you have a search directory identifying law firms on the Yorkshire BS conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in Blackfriars?
We are a listing service only for law firms wishing to communicate if they are on the Yorkshire BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Blackfriars.
Can you clarify what the consequences are if my solicitor is expelled from the Santander Conveyancing panel ahead of completing my conveyancing in Blackfriars?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
My friend suggested that where I am purchasing in Blackfriars I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Blackfriars conveyancing searches. It is a large report of more than thirty pages, listing and detailing significant information about Blackfriars around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information about Blackfriars.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a simple, no chain conveyancing. Blackfriars is the location of the property. Is there any guidance you can give?
Flying freeholds in Blackfriars are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Blackfriars you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Blackfriars may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Blackfriars. Conveyancing advisers have not yet been appointed. Will they explain the issues?
The majority of houses in Blackfriars are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Blackfriars so you should seriously consider shopping around for a Blackfriars conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your lawyer will appraise you on the various issues.
We have reached the end of our tether in seeking a lease extension in Blackfriars. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We can put you in touch with a Blackfriars conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Blackfriars residence 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 was in relation to 1 flat. The remaining number of years on the lease was 66.8 years.
We own a leasehold flat in Blackfriars. Conveyancing was finalised in 2011. I have read on various advice forums that I should not let the the remaining lease term to fall too low. Is this correct?
Blackfriars leasehold properties are for a prescribed period - normally 99 years when they started. However a significant flats in Blackfriars were constructed or converted 30 or more years ago and so these leases now have less than eighty years left to run. That may sound like plenty of time however Banks, Building Societies and other mortgage lenders on the whole require leases to have at least seventy five years unexpired to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are nearing eighty years. To optimize your property value you should be thinking about whether or not to extend your lease well in advance of selling the property. There are also strong financial reasons to doing so before the lease reaches even eighty years as when the lease falls below 80 years the amount to be paid to extend starts to increase.