Am I correct in assuming that the fact that my conveyancer in Camden is not identified on my mortgage company's conveyancing panel that there is a problem with the quality of his work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Camden conveyancing practice and ask them why they are no longer on the approved list for your bank.
I require conveyancing for an apartment in a relatively new development (five years old) in Camden. 95% of the appartments have already been occupied. Is it really necessary to order conveyancing searches as part of conveyancing in Camden?
You would be opening yourself up to an unnecessary risk in not carrying out Camden conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would absolutely advise in no uncertain terms that your solicitor conducts them. Where speed and cost are top of your concerns you should consider with your solicitor about the options such as indemnity insurance available to you
Do lenders provide you with an approved list of Camden conveyancing solicitors? How do you know who is on the Leeds Building Society conveyancing panel?
Camden conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
Due to the input of my in-laws I had a survey completed on a property in Camden ahead of retaining solicitors. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some lenders may refuse to grant a loan on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you e-mail us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Camden. Conveyancing may be slightly more expensive based on your lender's requirements.
We're novice buyers - agreed a price, yet the estate agent told us that the seller will only proceed if we instruct the agent's chosen conveyancers as they want a ‘quick sale’. My instinct tells me that we should use a high street conveyancer with experience of conveyancing in Camden
It is unlikely the vendors are behind this. If they require ‘a quick sale', alienating a motivated purchaser is counter productive. Avoid the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are ready to progress, with finances arranged © you do not need to sell (d) you intend to proceed fast (e)but you are going to instruct your preferred Camden conveyancing lawyers - not the ones that will give the estate agent a kickback or hit his conveyancing targets set by senior management.
Last April I purchased a leasehold property in Camden. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a ground floor flat in Camden. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
Most definitely. We can put you in touch with a Camden conveyancing firm who can help.
An example of a Lease Extension case for a Camden flat 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 was in relation to 1 flat. The remaining number of years on the lease was 64.77 years.