Unfortunately I am unable to travel far from Kentish Town. I would like to know the reason why all Kentish Town solicitors are not on all lender panels?
Even though it may seem unfair for mortgage companies to restrict who can represent them, from the public’s or lawyer’s point of view, the the contrary view is that banks are becoming ever more anxious and regard it essential to defend themselves from mortgage fraud. As a result of this concern banks have reduced their conveyancing panel to a size that they are happy to control.
In what way does my ID and proof of funds have anything to do with my conveyancing in Kentish Town? Is this really warranted?
Kentish Town conveyancing solicitors as well as nationwide property lawyers throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to check the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Bank Statement no more than three months).
Proof of the origin of monies is also necessary under the money laundering statutes as lawyers are duty bound to check that the money you are using to purchase a property (be it the exchange deposit or the total purchase price if you are buying without a mortgage) has originated from a reputable source (such as employment savings) and is not the product of illegitimate behaviour.
Just had an offer accepted on a new build flat in Kentish Town. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Kentish Town
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
In what way does the Landlord & Tenant Act 1954 impact my business property in Kentish Town and how can you help?
The 1954 Act affords a safeguard to commercial tenants, granting the legal entitlement to apply to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and assist with commercial conveyancing in Kentish Town
My wife and I have hit a brick wall in trying to purchase the freehold in Kentish Town. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to make a decision on the premium.
An example of a Lease Extension matter before the tribunal for a Kentish Town flat is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case was in relation to 1 flat. The remaining number of years on the lease was 64.77 years.
What makes a Kentish Town lease problematic?
There is nothing unique about leasehold conveyancing in Kentish Town. Most leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
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Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Barnsley Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.
My partner is buying a ground floor flat in Kentish Town. He has received a fee estimate by the property lawyer recommended by the estate agents and it came to £1245 . It was 9 years ago I sold and purchased a home and the fee was £500. Have charges really gone up that much?
You should call two or three local Kentish Town conveyancing solicitors requesting estimates. You should base your selection not solely on cost, but on promptness and on how comprehensive the response was.