I am in the process of selling my maisonette in Kensington and the estate agent has just text me to warn that the buyers are swapping conveyancer. I am told that this is due to the fact that the lender will only engage with property lawyers on their conveyancing panel. Why would a big named mortgage company only work with specific law firms rather the firm that they want to choose for their conveyancing in Kensington ?
Banks have always had an approved set of law firms that can represent them, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies justify this action to a rise in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any impact on this.
My bid for a property was accepted at auction in Kensington. Conveyancing is necessary. What happens now?
Having to in every practical sense signed on the dotted line you should find a conveyancing lawyer quickly as you will have a fast approaching a drop dead date to complete the transaction. All auction property should have an associated auction set of papers. This will include most,if not all of the paperwork that your lawyer requires. In the case of leasehold property the auction pack should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You should pass this on to the solicitor instructed by you as soon as possible. You also need to ensure that that you have the requisite funding organised to complete on the on the contractual date .
We are buying a victorian detached house in Kensington. Our aim is to convert the garage to a playroom at the property.Will the conveyancing process include investigations to ascertain if these works were previously refused?
Your property lawyer should check the registered title as conveyancing in Kensington can on occasion reveal restrictions in the title deeds which prevent certain changes or need the consent of another owner. Some extensions need local authority planning permissions and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Kensington property lawyer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
Despite weeks of looking the Title Certificate and documents to my house can not be found. The lawyers who conducted the conveyancing in Kensington 5 years ago no longer exist. What are my next steps?
Assuming the title is registered the details of your proprietorship will be evidenced by HMLR with a Title Number. It is possible to execute a search at the Land Registry, locate your house and secure current copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will usually hold a file copy of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
I am looking for a leasehold apartment up to £235,500 and found one near me in Kensington I like with a park and station nearby, however it's only got 49 years unexpired on the lease. There is not much else in Kensington for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage that many years may be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you can ask them to commence the lease extension formalities 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 matter.
I need to instruct a conveyancing solicitor for sale conveyancing in Kensington. I've land on a web site which appears to be the perfect offering If there is a chance to get all formalities done via phone that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am contemplating instructing a web based property lawyer ahead of a Kensington conveyancing practice. Any advice?
There are advantages of being able to visit a local Kensington conveyancing solicitor such as
- signing papers same day
- getting face-to-face explanations of matters that you need help with
- the ability to raise concerns if matters are not going as expected
When checking fees, look carefully for hidden extras. The majority decent Kensington high street solicitors give an all-inclusive price. Many online agents seem to offer cheap fees, but have burried 'extras' in the small print.