I can't travel far from Belgravia. Please spell out why all Belgravia solicitors aren't automatically on all lender panels?
Banks point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. This led to lenders removing less reputable firms off their books of approved conveyancers .
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Belgravia?
There are many recorded licenced Conveyancers in Belgravia and Solicitor practices in Belgravia to choose from We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in the home buying process. They may both also conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
The mortgage over my property is with RBS for my property in Belgravia. Conveyancing was finalised some time ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform RBS?
RBS must be informed of your intention prior to renting your property as this is likely to be a breach of RBS’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact RBS directly. You need not do this via a RBS conveyancing panel firm.
I am selling my apartment. I had a double glazing fitted in December 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Yorkshire BS are being problematic. The Belgravia solicitor who is on the Yorkshire BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Yorkshire BS are requiring a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I opted to have a survey done on a house in Belgravia before retaining lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies tend refuse to issue a mortgage on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Belgravia. Conveyancing may be slightly more expensive based on your lender's requirements.
I was advised by numerous estate agents in Belgravia to select a conveyancer on your site. What’s the financial advantage for Estate Agents to promote your services over another?
We refuse to give any financial incentive for directing people in our direction. We thought it would be too underhand a fee because members of the public would think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
My wife and I may need to let out our Belgravia garden flat for a while due to a career opportunity. We used a Belgravia conveyancing practice in 2003 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
Even though your last Belgravia conveyancing solicitor is no longer around you can check your lease to see if it allows you to sublet the premises. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain permission via your landlord or other appropriate person before subletting. This means that you cannot sublet without prior permission. The consent is not allowed to be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I own a ground floor flat in Belgravia. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
You certainly can. We can put you in touch with a Belgravia conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Belgravia premises 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 affected 1 flat. The unexpired term as at the valuation date was 13.33 years.
There are a lot of properties in Belgravia on private roads. We are purchasing such a property. What are the advantages and disadvantages of buying a residence on a privately owned road?
Belgravia conveyancing lawyers will be used to transacting propertieson private. Your solicitor will investigate title to identify any rights or responsibilities. In many cases there is a residents association that residents pay into for the upkeep of the road. If there is one, the road will likely be maintained and appear better than council owned.