All was ready to move into my new home in Kensington next Friday. My conveyancing practitioner now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What risks does the lender expect the insurance to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These requirements are not specific to conveyancing in Kensington.
Are the Kensington conveyancing solicitors identified as being on the Bank of Ireland conveyancing panel, together with their details provided by Bank of Ireland?
Kensington conveyancing firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
How does conveyancing in Kensington differ for new build properties?
Most buyers of new build or newly converted property in Kensington contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because builders in Kensington typically buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Kensington or who has acted in the same development.
Given that I will soon spend 450k on a two bedroom apartment in Kensington I wish to have a conversation with the conveyancer about mytransaction ahead of giving the go ahead to the firm. Can this be arranged?
This is something that we recommend - we would be happy to talk to you we do not take any clients on without you liaising with the conveyancer due to be doing your property ownership legalities in Kensington.There is no ‘factory style conveyancing’ - every client is unique person, not a case number. The law firms that we put you in touch with believe that the figure you are quoted for residential conveyancing in Kensington should be the amount on the final invoice that you are charged.
I am on look out for some leasehold conveyancing in Kensington. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Kensington - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Following years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Kensington. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We can put you in touch with a Kensington conveyancing firm who can help.
An example of a Lease Extension case for a Kensington property is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case was in relation to 1 flat. The remaining number of years on the lease was 37.79 years.
My mother and father cant seem to find their Kensington land registry title on the site. They recall that back in the 60’s when they bought the property there were complications concerning the address not being recognised in some systems.
Nearly all residences in Kensington should be revealed. Have you limited your search to simply the postcode. Ordinarily it should reveal all the premises within the postcode. Where registered it will be there with a title number. Where they bought back in the 60’s it's conceivable it may be not yet registered. The property might still be revealed but with the title number shown 'na'. In this scenario you will need to track down the original title papers which could be with your parent’s bank.