It is unclear whether my mortgage offer requires a lease extension. I have called my Kilburn bank branch on numerous occasions and was told it wasn't a problem and they would lend. My Kilburn conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their published requirements. Who do I believe?
As long as the conveyancing practitioner is on the mortgage company approved list, they must comply with the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Planning on purchasing a apartment in Kilburn. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Kilburn lawyer is on the Bank of Ireland conveyancing panel.
RBS have agreed my mortgage in principle, my offer on a flat in Kilburn has been accepted, what happens next?
The property agent will need to know who your solicitors are (make sure the property lawyers are on the lender’s approved list). Telephone RBS or your financial adviser and finalise any relevant paperwork. RBS will sellect a valuer who will get in contact with the selling agent or owners to arrange an appointment. Once carried out (assuming no problems) it takes on average ten days for the mortgage offer to be issued. RBS will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Kilburn.
How does conveyancing in Kilburn differ for new build properties?
Most buyers of new build or newly converted property in Kilburn contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is built. This is because builders in Kilburn usually buy the site, 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 conveyancers 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 Kilburn or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Kilburn is where the house is located. Can you shed any light on this issue?
Flying freeholds in Kilburn are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kilburn you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kilburn may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Are there any apps to assist me to search for a Kilburn solicitor on the Halifax conveyancing panel? I drive a motor bike and am happy to travel upto 20miles to meet the lawyer.
Feel free to make use of the tool on this page. Please pick a bank and your location and you will see a number of Kilburn conveyancing lawyers based on proximity. We have listed some Kilburn conveyancing firms towards the end of this page and you can ring them to see whether they are on the Halifax member panel
I've recently bought a leasehold flat in Kilburn. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
My wife and I have hit a brick wall in trying to purchase the freehold in Kilburn. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to assess the price payable.
An example of a Freehold Enfranchisement matter before the tribunal for a Kilburn premises is 4 & 4A Charteris Road in June 2009. the Tribunal held that the price to be paid for the enfranchisement of 4/4a Charteris Road to be £15,510 for at 4and £15,694 for at 4a This case affected 2 flats. The unexpired term as at the valuation date was 70.02 years.
My friend mentioned that when selecting a conveyancing solicitors they must be approved by your mortgage company. It happens to be my first house move but I have an AIP with Nat West Bank and I already have a local conveyancing solicitor in Kilburn lined up. Will Halifax need an approved lawyer to be instructed? Does a list of panel firms even exist so I can pick a conveyancing lawyer in Kilburn?
You should choose a solicitor that is on the Halifax panel. Just ring your preferred Kilburn conveyancing lawyer and ask if they are on the Halifax panel. If they are not on the panel you have a couple of alternatives open to you here:
- Carry on with your chosen Kilburn lawyer but Halifax will no doubt retain a conveyancer on their approved list. This will result in additional cost together with probable frustration.
- Appoint a fresh lawyer to conduct the conveyancing, making sure they are on the Halifax conveyancing panel.
- Convince your solicitor to pull out all the stops to get accepted on the Halifax conveyancing panel.