Unfortunately I am unable to travel far from Chelsea. What is the rationale as to why all Chelsea conveyancers aren't automatically on all mortgage company panels?
Before the recession most banks demonstrated an approach to risk which is different than today. The financial regulator in 2010 carried out a thematic review into property fraud which in summary warned lenders: know the lawyers on your panel. Consequently, mortgage companies have subsequently looked to extract more information from law firms about their processes and the individuals who work for them and set certain criteria such as completing a minimum amount of transactions. Thousands of law practices have found themselves removed from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the criteria of volume of transactions the lenders set.
Can I use your services to locate a Conveyancing solicitor in Chelsea even where I’m not buying or disposing of a house, for instance where I want to acquire a shop in Chelsea with a loan from Bank of Scotland?
Our search tool is mainly used to find domestic conveyancing solicitors in Chelsea but we have set out at the end of this page some Chelsea commercial conveyancing firms. You will need to speak with the firm directly to check if they can also act for Bank of Scotland
My uncle passed away last year and as sole heir and executor I was left the property in Chelsea. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this possible?
If you intend to re-mortgage then Lloyds will require that you use a conveyancer on the Lloyds conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Lloyds conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Lloyds mortgage is registered as a charge at the Land Registry.
I am buying a new build apartment in Chelsea. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Chelsea
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan.
My cousin has recommend that I instruct his conveyancers in Chelsea. Should I use them?
No doubt the best way to select a conveyancing lawyer is to get referrals from friends or family who have experience in using the firm that you are considering.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Chelsea conveyancing firm to represent me?
Where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the sum to be paid.
An example of a Lease Extension decision for a Chelsea premises is 150A Albert Palace Mansions Lurline Gardens in July 2013. The Tribunal determined that the premium payable for the new lease of the subject property was £42,069 This case was in relation to 1 flat. The remaining number of years on the lease was 57.06 years.
What are the frequently found defects that you encounter in leases for Chelsea properties?
There is nothing unique about leasehold conveyancing in Chelsea. All leases are drafted differently and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.