Find a Lender-Approved Local Conveyancer in Belgravia

Is it realistic for conveyancing in Belgravia to be finalised in under two weeks?

First, If you are under time constraints to exchange it is advisable to make sure that your solicitor is familiar with the area as they will make use of local contacts and insight. It is even conceivable that they may have handled otherhouses in the same neighbourhood. You would be best advised to use a Belgravia conveyancing lawyer. Second, double check that the conveyancing firm is on the member panel. It is said that just under twenty per cent of Belgravia conveyancing deals are frustrated or jeopardised after discovering a purchaser’s solicitor was not on their banks panel. This can often result in the legal transfer of property being held up by an average of 21 days. It is claimed that this issue affects in the region of 100,000 home sales every year. Most Belgravia conveyancing practices can not represent certain lenders so do check at the outset.

Is there a reason why leasehold purchase conveyancing in Belgravia costs more?

In summary, leasehold conveyancing in Belgravia and elsewhere usually necessitates extra due diligence compared to freehold conveyancing. This includes lease investigation, communicating with the landlord concerning the service of applicable notices, securing current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first entered into.

We have a mortgage agreed in principle with Virgin Money. Belgravia conveyancing lawyers were selected. How long does it take for Virgin Money to forward the offer to the conveyancer?

There is no definitive answer here. Have Virgin Money conducted the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.

We have agreed to purchase a house in Belgravia. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Principality be concerned?

Given that your lender is Principality your lawyer must follow the formal instructions contained in Section two of UK Finance Lenders’ Handbook for Principality. The CML Handbook sets out minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Principality where a lease fails to meet these requirements. The conditions relate to the installation of panels on properties nationwide and is not restricted to Belgravia.

I have today made my last payment due on my mortgage with Lloyds. I assume I don't need a Belgravia conveyancing practitioner on the Lloyds panel to discharge the mortgage at the Land Registry. Am I right?

If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Lloyds has sent the Land Registry the discharge electronically, and
3. Lloyds has instructed the Land Registry to do so

The Land Registry will send you a letter confirming that your Lloyds mortgage has been paid off.

Just bought a detached house in Belgravia , What is the estimated time for the Land Registry to record my ownership? My Belgravia conveyancing solicitor works at snail pace, so I want to be certain the post completion formalities are concluded.

There is nothing unique about conveyancing in Belgravia registration formalities. Rather than based on location, timescales can adjust according to who lodges the application, whether it is in order and if the Land registry have to notify any third persons or bodies. At present roughly 80% of such applications are fully addressed within 12 days but some can be subject to protracted delays. Historically registration takes place after the buyer has moved in to the premises therefore 'speed' is not typically primary concern yet if it is urgent that the the registration takes place urgently then you or your lawyers should communicate with the Registry to express the reasoning for an expedited registration.

All being well we will complete the disposal of our £450,000 apartment in Belgravia next week. The managing agents has quoted £396 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Belgravia?

Belgravia conveyancing on leasehold flats typically results in fees being invoiced by landlords agents :

Completing pre-exchange enquiries Where consent is required before sale in Belgravia Supplying insurance information Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Belgravia leasehold property is £350. For Belgravia conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

I have had difficulty in seeking a lease extension in Belgravia. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to judgment on the price.

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 was in relation to 1 flat. The unexpired term as at the valuation date was 13.33 years.

I have finally had an offer on an maisonette in Belgravia agreed to, but there is a chain. The sellers have put an offer on on an apartment, although it’s not been accepted yet, and has viewings of other flats booked. I have chosen a local conveyancing solicitor in Belgravia. What should be my next step? At what point should I apply for the mortgage with Barclays?

It is usual to have concerns where there is an associated chain given your reluctance to incur costs prematurely (mortgage application is in the region of £1k, then valuation, Belgravia conveyancing search charges, etc). The first thing to do is check that your property lawyer is on the Barclays approved list. Concerning the subsequent phase this very much depends on the specifics of your transaction, desire for the property and on the state of the market. In a buoyant market many home buyers will apply for the mortgage with Barclays and arrange for the survey and only if it comes back ok would they pay their conveyancer to press on with the conveyancing in Belgravia.