My fiance and I are intent on buying residence in Fitzrovia. My property lawyer is not on the lender approved list. Is it possible for me to appoint my Fitzrovia conveyancing solicitor notwithstanding that they are not on the bank panel of approved conveyancing solicitors?
One must use a property lawyer to deal with the formalities if you require a mortgage to buy your home. They will carry out all the essential due diligence on the property, ensuring that you will be registered as proprietor and ensure that all the necessary mortgage paperwork is in place. One may appoint a Fitzrovia solicitor of your choosing. Nevertheless, where the lawyer selected is not on the lender solicitor panel further costs will arise as separate legal representation will be required by them. Lender panel applications can be submitted, so if your conveyancer has not historically applied for membership they should do so.
My son-in-law is buying a house that has just been built in Fitzrovia with a home loan from HSBC. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the HSBC conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am considering applying for a Clydesdale mortgage for purchase of a new build (under development) in Fitzrovia with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Clydesdale ?
In theory, you could use a solicitor that is not on the Clydesdale conveyancing panel, but Clydesdale would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Are there restrictive covenants that are commonly identified during conveyancing in Fitzrovia?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Fitzrovia. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £400,000 apartment in Fitzrovia on Thursday in a week. The managing agents has quoted £348 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Fitzrovia?
Fitzrovia conveyancing on leasehold flats nine out of ten times involves administration charges invoiced by management companies :
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Addressing pre-exchange questions
Where consent is required before sale in Fitzrovia
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Fitzrovia conveyancing firm to help?
Most definitely. We are happy to put you in touch with a Fitzrovia conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Fitzrovia property is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case affected 1 flat. The remaining number of years on the lease was 73.26 years.
I am buying a leasehold property in Fitzrovia. Conveyancing estimates are averaging around £1800. Is that reasonable?
The average cost last year for conveyancing in Fitzrovia was just over one thousand four hundred and fifty pounds excluding SDLT and Land Registry charges.