Can you clarify what the consequences are if my solicitor is expelled from the TSB Solicitor panel ahead of completing my conveyancing in Clerkenwell?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
My relative suggested that where I am buying in Clerkenwell I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Clerkenwell conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Clerkenwell around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful data concerning Clerkenwell.
five months have gone by following my purchase conveyancing in Clerkenwell concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 residence 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.
I decided to have a survey completed on a property in Clerkenwell prior to appointing solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some banks will not grant a loan on this type of house.
It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. If you call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Clerkenwell. Conveyancing will be smoother if you use a solicitor in Clerkenwell especially if they are acquainted with such properties in Clerkenwell.
If all goes to plan we aim to complete our sale of a £125,000 apartment in Clerkenwell in 5 days. The landlords agents has quoted £336 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Clerkenwell?
Clerkenwell conveyancing on leasehold maisonettes more often than not requires the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be willing to do so. They are entitled to levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some transactions it is above £800. The administration charge required by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is demanded if you want to complete the sale of your home.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Clerkenwell conveyancing firm to help?
Absolutely. We are happy to put you in touch with a Clerkenwell conveyancing firm who can help.
An example of a Lease Extension case for a Clerkenwell residence 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 affected 1 flat. The remaining number of years on the lease was 66.8 years.
I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Clerkenwell. Conveyancing advisers have not yet been appointed. Will they explain the issues?
The majority of houses in Clerkenwell are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Clerkenwell so you should seriously consider looking for a Clerkenwell conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your lawyer should report to you on the legal implications.