Unfortunately I am unable to travel far from Camden Town. Is there a reason why all Camden Town conveyancing practitioners aren't included on all bank panels?
Banks highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The dismissal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. This led to mortgage companies removing less reputable firms off their panel of approved solicitors .
Finally the sale completed on my house in Camden Town last July but the buyer keeps e-mailing me to say their solicitor needs to hear from mine. What are the post completion sale legalities following completion?
Following your sale your solicitor should deliver the transfer deeds and all additional paperwork to the purchaser's solicitors. Depending on the transaction, your lawyer must also confirm that the home loan has been paid off to the purchasers lawyers. There are no post completion steps specific conveyancing in Camden Town.
We're in Camden Town, FTBs buying with a mortgage (lender is Skipton , and our solicitor is on the Skipton conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Skipton conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
2 months have gone by following my purchase conveyancing in Camden Town concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the advice of my in-laws I had a survey completed on a property in Camden Town ahead of retaining lawyers. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some lenders may refuse to issue a loan on this type of premises.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. If you e-mail us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Camden Town. Conveyancing will be smoother if you use a solicitor in Camden Town especially if they are acquainted with such properties in Camden Town.
I am tempted by the attractive purchase price for a couple of flats in Camden Town both have about fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Camden Town. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the value of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Camden Town conveyancing firm to represent me?
Absolutely. We are happy to put you in touch with a Camden Town conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Camden Town premises is Flat 120, Clare Court Judd Street in August 2013. the Tribunal held that the premium to be paid for the extension of the lease should be £64,650 This case related to 1 flat. The unexpired lease term was 62.79 years.