My wife and I are purchasing a 3 bedroom flat in Kilburn Park with a mortgage. We would like to retain our Kilburn Park lawyer, however the mortgage company advise he's not on their "panel". We have to appoint one of the lender panel solicitors or continue with our Kilburn Park conveyancer as well as pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Kilburn Park conveyancing lawyer to apply to be on the conveyancing panel.
The Kilburn Park conveyancing firm that I appointed last week on my purchase in Kilburn Park have without warning closed. I chose them because I needed a lawyer on the UBS conveyancing panel and my preferred Kilburn Park lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What should be my next steps?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the UBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
A relative pointed out to me me that in purchasing a property in Kilburn Park there may be various restrictions prohibiting external alterations to the property. Is this right?
There are a number of properties in Kilburn Park which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Kilburn Park should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We are getting the release of further funds on our home loan from Leeds Building Society as we want to carry out a loft conversion to our home in Kilburn Park. Are we obliged to choose a bricks and mortar Kilburn Park solicitor on the Leeds Building Society conveyancing panel to deal with the legals?
Leeds Building Society would not normally appoint firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society panel.
I have paid off my mortgage with Nottingham. I assume I don't need a Kilburn Park property lawyer on the Nottingham panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nottingham 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 Nottingham mortgage from the register. Nottingham, 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 Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
It has been 4 months following my purchase conveyancing in Kilburn Park took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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 property 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Kilburn Park is the location of the property. Is there any advice you can impart?
Flying freeholds in Kilburn Park are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kilburn Park you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kilburn Park may determine 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.
I today plan to offer on a house that appears to be perfect, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Kilburn Park. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
The majority of houses in Kilburn Park are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Kilburn Park in which case you should be shopping around for a Kilburn Park conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your solicitor should appraise you on the various issues.
I own a first floor flat in Kilburn Park. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
in cases where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the price payable.
An example of a Freehold Enfranchisement case for a Kilburn Park residence 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 related to 2 flats. The number of years remaining on the existing lease(s) was 70.02 years.