I am six weeks into the sale of my maisonette in Kingston upon Thames and the estate agent has just text me to say that the purchasers are changing their law firm. I am told that this is due to the fact that the bank will only work with property lawyers on their conveyancing panel. On what basis would a leading lender only engage with specific solicitors rather the firm that they want to choose to handle their conveyancing in Kingston upon Thames ?
UK lenders have always had panels of law firms that can represent them, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Banks justify this action to a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to oversee. 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 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. The purchasers are not going to have any sway in the decision.
My wife and I intend to remortgage our penthouse in Kingston upon Thames with Coventry BS. We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have a couple of concerns (1) Is this document specific to the Coventry BS conveyancing panel as he never had to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Coventry BS. This is solely used to protect Coventry BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Coventry BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Should commercial conveyancing searches reveal impending roadworks that could affect a commercial property in Kingston upon Thames?
Many commercial conveyancing solicitors in Kingston upon Thames will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Kingston upon Thames. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Kingston upon Thames.
For each commercial conveyancing transaction in Kingston upon Thames it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could result in delays to Kingston upon Thames commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Kingston upon Thames.
How does conveyancing in Kingston upon Thames differ for new build properties?
Most buyers of new build or newly converted property in Kingston upon Thames approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Kingston upon Thames usually 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 upon Thames or who has acted in the same development.
Are there any apps to help search for a Kingston upon Thames law firm on the Lloyds TSB Bank conveyancing panel? I drive a motor bike and am prepared to travel upto 25kilometers to meet the solicitor.
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 Kingston upon Thames conveyancing lawyers located nearest you. We have detailed some Kingston upon Thames conveyancing firms towards the end of this page and you can call them to see if they are on the Lloyds TSB Bank approved list
All being well we will complete our sale of a £275,000 flat in Kingston upon Thames in just under a week. The management company has quoted £348 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Kingston upon Thames?
Kingston upon Thames conveyancing on leasehold maisonettes often involves the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be content to do so. They are at liberty to invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee demanded by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that one has no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
We have reached the end of our tether in trying to purchase the freehold in Kingston upon Thames. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee landlord 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 LVT to calculate the amount due.
An example of a Lease Extension decision for a Kingston upon Thames property is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.