I am nearing exchange of contracts for my apartment in King's Cross and the EA has just text me to warn that the purchasers are changing their conveyancer. I am told that this is due to the fact that the lender will only work with solicitors on their approved list. Why would a big named mortgage company only engage with certain law firms rather the firm that they want to select to handle their conveyancing in King's Cross ?
Banks have always had panels of law firms that can represent them, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks point to the increase in fraud by way of justification for the cull – criteria have been narrowed 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. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
Do the conveyancing practitioners that you recommend conduct auction conveyancing in King's Cross?
There are a number of auction practitioners we can put you in touch with those specialising in auction conveyancing. King's Cross is just one of our locations in which our lawyers are based.
We are due to move home in August. Should my conveyancing solicitor liaise with the removal company on the day of completion. On a separate note, can you recommend a removal company in King's Cross. Conveyancing solicitor was chosen before I stumbled across this page.
On the day of completion you will need to pick up the house keys from your selling agent but this can only take place when the previous owners lawyers advise the agent that they acknowledge receipt of the completion payment and the keys can be released. After that you should advise the removal company that you are ready to move in. As a matter of policy we do not suggest a specific removal company but can help you find a residential property solicitor in King's Cross or a legal practice that specialises in conveyancing in King's Cross.
We previously chose solicitors with offices in King's Cross on the Lloyds solicitor approved list. They are now charging me a supplemental sum for dealing with the Lloyds mortgage. Is this an additional conveyancing fee set by Lloyds?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your conveyancer is entitled to levy a fee for this. This fee is not dictated by Lloyds but by your King's Cross lawyer. Numerous firms on the Lloyds panel will charge ’dealing with mortgage’ fee but plenty of practices incorporate it on their overall fee.
I am due to exchange contracts on my flat. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, TSB are being a right pain. The King's Cross solicitor who is on the TSB conveyancing panel is saying indemnity insurance will be fine but TSB are requiring a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Various web forums that I have visited warn that are the primary cause of delay in King's Cross house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in King's Cross.
In surfing the world wide web for the phrase conveyancing in King's Cross it brings up numerous property lawyerslocally. How do I determine which is the suitable conveyancing solicitor for my move?
The best method of finding a suitable conveyancer is via trusted testimonial, so ask friends and family who have purchased a property in King's Cross or a respected estate agent or financial adviser. Costs for conveyancing in King's Cross differ, so it's sensible to request a minimum of four fee calculations from varying types of conveyancers. Be sure to seek confirmation what costs in the quote includes.
I am in need of some leasehold conveyancing in King's Cross. Before I get started I would like to find out the remaining lease term.
Assuming the lease is registered - and almost all are in King's Cross - 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.
I am the registered owner of a first flat in King's Cross. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Where there is a absentee freeholder or where there is disagreement 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 First-tier Tribunal (Property Chamber) to determine the premium.
An example of a Lease Extension decision for a King's Cross residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The unexpired term was 66.8 years.