My wife and I are purchasing a 2 bedroom apartment in Kensal Green with a mortgage. We have a Kensal Green solicitor, but the bank says he's not on their "panel". It appears that we have no option but to instruct one of the mortgage company panel conveyancing practices or keep our Kensal Green conveyancing practitioner as well as pay for one of their panel firms to represent them. This seems very unfair; can we not insist that the mortgage company use our Kensal Green lawyer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Kensal Green conveyancing solicitor to apply to be on the conveyancing panel.
We have rather brash sellers who has insisted on a exclusivity contract with a down payment of 5k. Are such arrangements the norm for Kensal Green conveyancing transactions?
There are two primary downsides with signing a lock out agreement (also known as a shut-out contract) is that it can distract from progressing with the conveyancing process, so in the absence of it needing minimal or no negotiation then it may turn out to be a hindrance. It is not particularly popular by Kensal Green conveyancing practitioners for this reason. A supplemental issue is the extent of the remedies available - an aggrieved buyer is extremely unlikely to win an injunctive ruling by a court to bar the seller selling to another buyer, so the only remedy open via the contract will be the recovery of abortive costs and, in restricted scenarios, the additional payment of damages.
I purchased a freehold premises in Kensal Green but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Kensal Green and has limited impact for conveyancing in Kensal Green but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
My partner and I are selling our house in Kensal Green and according to the buyers it appears that there is a possibility that the property was built on contaminated land. A local lawyer would know that there is no such problem. It does beg the question why the buyers are using a nationwide conveyancing outfit as opposed to a conveyancing solicitor in Kensal Green. We have lived in Kensal Green for many years we know of no issue. Is it a good idea to get in touch with our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I am looking for a flat up to £245,000 and found one close by in Kensal Green I like with a park and station in the vicinity, however it only has 52 remaining years left on the lease. There is not much else in Kensal Green in this price bracket, 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. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
I am a negotiator for a long established estate agency in Kensal Green where we have experienced a number of leasehold sales derailed due to short leases. I have received inconsistent advice from local Kensal Green conveyancing solicitors. Can you shed some light as to whether the seller of a flat can instigate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
After years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Kensal Green. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We can put you in touch with a Kensal Green conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Kensal Green flat is 85A Chevening Road in August 2013. the Tribunals conclusions resulted in a payment of a premium for the new lease in the sum of £11,211 This case related to 1 flat. The unexpired residue of the current lease was 84.34 years.