When it comes to lenders such as Virgin Money, do Clerkenwell property lawyers face an annual charge to be on the conveyancing panel?
We are unaware of any lender fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
We previously appointed conveyancers located in Clerkenwell on the TSB solicitor approved list. They have just invoiced me a supplemental amount for handling the TSB mortgage. Is this an additional conveyancing fee specified by TSB?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your solicitor can charge a fee for this. The fee is not dictated by TSB but by your Clerkenwell conveyancing practitioner. Plenty of firms on the TSB panel will charge an ‘acting for lender’ fee but many firms include it on their overall fee.
I had an offer accepted on a house in Clerkenwell on 23/5/2019, valuation was booked five days later, received a clean bill of health. Conveyancer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to HSBC and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the HSBC conveyancing panel. Are HSBC entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for HSBC to deal with your lawyer's application to be on the HSBC conveyancing panel. There's no guarantee that your solicitor will be accepted.
Do commercial conveyancing searches reveal impending roadworks that may affect a commercial site in Clerkenwell?
Many commercial conveyancing solicitors in Clerkenwell will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Clerkenwell. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Clerkenwell.
For every commercial conveyancing transaction in Clerkenwell it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Clerkenwell commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Clerkenwell.
I completed on my apartment on 10 May and the transaction details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Clerkenwell said it should be recorded in a couple of weeks. Are properties in Clerkenwell uniquely lengthy to register?
There is nothing unique about conveyancing in Clerkenwell registration formalities. As opposed to being determined by geographic area, timescales can vary depending on who lodges the application, whether it is in order and if the Land registry communicate with any interested persons or bodies. At present roughly 80% of submission are completed in less than three weeks but some can be subject to longer delays. Historically registration is effected after the new owner has moved in to the property so registration formalities is not always an essential issue but if it is urgent that the the registration takes place urgently then you or your conveyancer should communicate with the Registry to express the reasoning for an expedited registration.
Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Clerkenwell I like with amenity areas and railway links nearby, the downside is that it's only got 51 years on the lease. I can't really find anything else in Clerkenwell for this price, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.
My uncle has urged me to instruct his lawyers for conveyancing in Clerkenwell. Do I take his advice?
Much as we are happy to recommend a Clerkenwell conveyancing lawyer it’s preferable to select a conveyancing solicitor is to have referrals from friends or relatives who have actually previously instructed the conveyancer that you are considering.
Having checked my lease I have discovered that there are only Sixty One years unexpired on my flat in Clerkenwell. I now wish to get lease extension but my freeholder is absent. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you have used your best endeavours to locate the lessor. On the whole a specialist may be helpful to conduct investigations and prepare a report which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court overseeing Clerkenwell.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Clerkenwell conveyancing firm to help?
Most definitely. We can put you in touch with a Clerkenwell conveyancing firm who can help.
An example of a Lease Extension case for a Clerkenwell premises is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The unexpired lease term was 66.8 years.