We are approaching an exchange on a property in Camden and my parents have sent the exchange deposit to my conveyancer. I am now advised that as the deposit has not come from me my property lawyer needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the bank concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your solicitor is obliged to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Having sold my house in Camden last June yet the purchaser is Skype messaging me to moan that their solicitor needs to hear from mine. What should have happened following completion?
After completion of your house sale your conveyancer should deliver the transfer deeds and all of the paperwork to the purchaser's solicitors. Depending on the transaction, your solicitor must also evidence that the mortgage has been paid off to the buyers conveyancers. There is unlikely to be post completion tasks peculiar conveyancing in Camden.
I need some expedited conveyancing in Camden as I have a deadline to complete in less than 3 weeks. Fortunately I do not require a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
As you are are a cash purchaser you are at liberty not to have searches conducted although no conveyancer would advise that you don't. Drawing on our experience of conveyancing in Camden the following are examples of issues that can show up and adversely impact market value: Refused Planning Applications, Overdue Charges, Outstanding Grants, Railway Schemes,...
I am 14 days into a leasehold purchase having been referred to solicitors by the high street agent to handle our conveyancing in Camden. I am am extremely frustrated with the quality of service. Can you you assist me in finding new solicitors?
A conveyancer would have to be very bad to suggest replacing them. Has the loan offer been generated? In the event that it has you need to inform them of the replacement conveyancer and ensure the offer are re-issued. Your conveyancer needs to be on the lenders panel to avoid added costs and complications. So that should be your first question of the new conveyancers. The find a solicitor tool can help you find a lender approved lawyer for your conveyancing in Camden
I work for a reputable estate agent office in Camden where we have witnessed a few flat sales put at risk due to short leases. I have received contradictory information from local Camden conveyancing firms. Could you confirm whether the vendor of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Despite our best efforts, we have been unsuccessful in negotiating a lease extension in Camden. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee landlord or if 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 determine the price payable.
An example of a Lease Extension matter before the tribunal for a Camden premises is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case affected 1 flat. The unexpired term was 64.77 years.
Are Camden conveyancing solicitors duty bound by the Law Society to supply transparent conveyancing figures?
Contained within the Solicitors Code of Conduct are set rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be interpreted as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, however, constitute the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Camden or beyond.