I am selling my flat in Kingston and the EA has just e-mailed to say that the purchasers are appointing a new conveyancer. The reason given is that the bank will only work with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only engage with specific law firms rather the firm that they want to choose to handle their conveyancing in Kingston ?
UK lenders have always had panels of law firms that can represent them, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lending institutions blame a rise 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 claims that it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
Can your site be used to recommend a Conveyancing solicitor in Kingston even if I’m not buying or selling a house, for example where I wish to buy an office in Kingston with a loan from Barclays Direct?
Our comparison service is primarily there to get a quote from domestic conveyancing solicitors in Kingston but we have listed towards the end of this page a few Kingston commercial conveyancing firms. You will need to speak with the firm directly to establish if they can also act for Barclays Direct
How does conveyancing in Kingston differ for newly converted properties?
Most buyers of new build property in Kingston contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Kingston typically purchase the land, 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 Kingston or who has acted in the same development.
I was advised by numerous property agents in Kingston to get a quote from a property lawyer using your seach tool. Is there a financial advantage for Estate Agents to recommend your lawyers rather than another?
We refuse to give any financial incentive for directing people in our direction. We found it would be just too difficult a fee because a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I have recently realised that I have 72 years unexpired on my lease in Kingston. I need to get lease extension but my freeholder is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you have made all reasonable attempts to track down the freeholder. In some cases a specialist should be useful to carry out a search and to produce an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Kingston.
I own a ground floor flat in Kingston, conveyancing was carried out in 2009. How much will my lease extension cost? Equivalent flats in Kingston with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 levied per year. The lease terminates on 21st October 2084
With just 60 years left to run we estimate the price of your lease extension to range between £20,000 and £23,000 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
Is it the case that all Kingston conveyancers on every bank conveyancing panel?
The Lexsure search tool on this page may be of use or you can go into your high street lender branch in Kingston. the probability is that they will know some good conveyancing solicitors in Kingston