Is the fact that my solicitor in King's Cross is not listed on my mortgage company's solicitor panel that there is a problem with the standard of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the King's Cross conveyancing practice and enquire why they are no longer on the approved list for your lender.
The vendors of the house we are looking to purchase are using a conveyancing firm in King's Cross who has recommended a exclusivity agreement with a deposit 10k. Are such agreements sensible?
Lock out agreements are agreements between a property vendor and purchaser giving the buyer the sole right to the sale of the premises for a set period of time. For all intents and purposes, a lock out agreement is a contract stating that you should be issued with a contract at a later date which is the main conveyancing contract. It tends to be used for buyer protection though in some cases, the owner may stand to benefit from such agreements as well. There are many positives and negatives to using them but you need to check with your conveyancer but note that it may result in incurring extra in conveyancing fees. For this these agreements are avoided when it comes to conveyancing in King's Cross.
How up to date is your database of King's Cross solicitors on the Clydesdale conveyancing panel? Do Clydesdale send you an updated list?
King's Cross conveyancing firms themselves provide us confirmation that they are on the Clydesdale conveyancing panel as opposed to being supplied with a list from Clydesdale directly.
When it comes to lenders such as Virgin Money, do King's Cross lawyers face a yearly amount to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I have decided to exercise my right to buy my property in King's Cross off the council. I have a mortgage agreed with Santander. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
I have a mortgage with Bank of Ireland for my property in King's Cross. Conveyancing was finalised some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
You must advise Bank of Ireland in advance of letting out your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. It may be that Bank of Ireland will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. It should not be necessary to do this via a Bank of Ireland conveyancing panel solicitor.
Despite weeks of looking the Title Certificate and documents to our property are lost. The lawyers who dealt with the conveyancing in King's Cross 4 years ago are no longer around. Will I be able to sell the house?
Gone are the days when you need to hold title deeds to evidence that you are the owner of your registered land or premises, given that the Land Registry hold details of all registered land or property electronically.
I have been on the look out for a ground for flat up to £235,500 and identified one round the corner in King's Cross I like with amenity areas and station nearby, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in King's Cross in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage that many years will likely be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.