I am not well enough to travel far from Kensal Rise. Can you please spell out why all Kensal Rise conveyancing practitioners aren't included on all bank panels?
Banks point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in lenders pruning a number of firms from their panel of approved solicitors .
We were just about to exchange contracts for a freehold house in Kensal Rise. We have hit a stumbling block. Our loan offer with Barclays Direct runs out on 1/11/2024 but the owners are suggesting a completion date of 5/11/2024. Is it possible to extend the loan expiry date?
The best person to address this concern is your solicitors who will hopefully assess if they better off negotiating with the mortgage broker, vendor’s lawyers, selling agents or indeed all parties taking into account what has happend in your house move as of today.
I purchased a freehold residence in Kensal Rise yet invoiced for rent, why is this and what is this?
It is rare for properties in Kensal Rise and has limited impact for conveyancing in Kensal Rise 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Can I be sure that the Kensal Rise conveyancing solicitor on the Bank of Ireland panel is any good?
When it comes to conveyancing in Kensal Rise seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer conducting your conveyancing.
It is not clear whether my mortgage offer requires a lease extension. I have called into my local Kensal Rise building society branch on numerous occasions and was told it does not impact the mortgage offer and they will lend. My Kensal Rise conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. Who do I believe?
Provided that the conveyancer is on the lender panel, they must comply with the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Lloyds have agreed my home loan in principle, my bid on a apartment in Kensal Rise has been accepted, what are the next steps?
Your property agent will wish to know who your solicitors are (ensure that the conveyancing practitioners are on the lender’s approved list). Contact Lloyds or the financial adviser and finalise any relevant forms. Lloyds will instruct a valuer who will get in touch with the estate agent or seller to book a slot for the valuation to happen. Once carried out (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Lloyds will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Kensal Rise.
It has been 4 months following my purchase conveyancing in Kensal Rise completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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.
We expect to complete the sale of our £400,000 flat in Kensal Rise in 10 days. The managing agents has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Kensal Rise?
Kensal Rise conveyancing on leasehold maisonettes often involves the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be content to assist. They are entitled to invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it is in excess of £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
We have reached the end of our tether in seeking a lease extension in Kensal Rise. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Kensal Rise conveyancing firm who can help.
An example of a Lease Extension decision for a Kensal Rise premises 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 affected 1 flat. The remaining number of years on the lease was 84.34 years.