I am not in a position to travel far from Kennington. What is the rationale as to why all Kennington conveyancing practitioners are not on all mortgage company panels?
As unjust as it may seem for lenders to restrict who can represent them, from the public’s or lawyer’s viewpoint, the the contrary view is that lenders are becoming ever more anxious and regard it necessary to shield themselves from mortgage fraud. As a consequence of this concern lenders are limiting their panel of approved conveyancing lawyers to a manageable size.
We are purchasing a brand new apartment in Kennington and my lawyer is informing me that she has to the mortgage company to disclose incentives from the developer. I am on a tight deadline to exchange contracts and I have no desire to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
It has been three months since my purchase conveyancing in Kennington completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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 premises 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 am looking for a ground for flat up to £235,500 and found one close by in Kennington I like with a park and railway links in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Kennington suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
How can the Landlord & Tenant Act 1954 affect my business premises in Kennington and how can your lawyers assist?
The particular law that you refer to provides a safeguard to commercial leaseholders, giving them the right to apply to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Kennington is one of the numerous locations in which the firms we work with are based
Do I have to have a meeting at the offices of the mortgage company conveyancing panel solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Kennington so that I can attend their offices when needed.
Most conveyancing panel lawyers for the lender undertake conveyancing via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. YOu dont have to use a conveyancing solicitor in Kennington. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
