The Earls Court conveyancing firm handling our Earls Court conveyancing has spotted a difference between the assumptions in the valuation report and what is revealed within the conveyancing documents. My lawyer informs me that he must ensure that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s course or action correct?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am assisting my sister sell her house in Earls Court. Will the conveyancing solicitor commission the energy assessment or it is for the owner to coordinate?
After the abolition of HIPs, energy assessments was retained a compulsory element of moving house. An energy performance certificate should be commissioned before the property is advertised. This is not a task that law firms normally arrange. Where you are instructing a Earls Court conveyancing solicitor they may be able to arrange EPC’s due to their relationships with long established Earls Court assessors
Two weeks ago we had a mortgage agreed in principle with Nationwide. Earls Court conveyancing practitioners have been selected. How long does it take for Nationwide to forward the offer to the solicitor?
There is no definitive answer here. Have Nationwide done the valuation? Have you advised Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am due to exchange contracts on my house. I had a double glazing fitted in February 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, RBS are being pedantic. The Earls Court solicitor who is on the RBS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but RBS are insisting on a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Due to the guidance of my in-laws I had a survey completed on a house in Earls Court in advance of appointing lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some lenders may not issue a loan on such a home.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to telephone us we can check with 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 Earls Court. Conveyancing may be slightly more expensive based on your lender's requirements.
In what way can the Landlord & Tenant Act 1954 affect my commercial property in Earls Court and how can you help?
The 1954 Act gives protection to commercial tenants, granting the dueness to apply to court for a new lease and remain in occupation when the lease reaches an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing firms who use the act for protection and help with commercial conveyancing in Earls Court
After months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Earls Court. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to determine the price payable.
An example of a Freehold Enfranchisement decision for a Earls Court premises is 5 Wetherby Gardens in June 2014. the Tribunal concluded that the price to be paid for the freehold of the property was £2,369,452. This case related to 5 flats. The unexpired residue of the current lease was 38.98 years.
What makes a Earls Court lease defective?
There is nothing unique about leasehold conveyancing in Earls Court. Most leases are individual and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
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. HSBC Bank, Bank of Scotland, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.
What is the average legal costs for conveyancing in Earls Court?
The average fee in 2014 for conveyancing in Earls Court was £1,395 not including Land Tax and HMLR charges.