Unfortunately I am unable to travel far from Knightsbridge. Is there a reason why all Knightsbridge property lawyers are not on all lender panels?
Lenders normally impose restrictions on either the type or volume of conveyancing firms on their panel. Typical examples of such restriction(s) being that the organisation needs to have two or more partners. In addition to restricting the structure of firm, some banks for example HSBC made a decision to limit the number of firms they allow to act for them. It is worth noting that mortgage companies have no responsibility for the standard of conveyancing provided by any Knightsbridge property lawyer on their panel. Property fraud was a key driver in the culling of conveyancing panels from 2008 even though there are differing thoughts about whether solicitors sat at the center of that fraud. Data published by HMLR indicates that thousands of law organisations only carry out a couple of conveyances a year. Those supporting conveyancing panel pruning ask why law firms should have the right to be on a conveyancing panel when it is apparent that property law is not their speciality?
Can you explain why leasehold purchase conveyancing in Knightsbridge costs more?
In summary, leasehold conveyancing in Knightsbridge and elsewhere usually requires extra hours of investigation compared to freehold conveyancing. This includes checking the lease terms, corresponding with the landlord about the service of required notices, obtaining up-to-date service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
Taking into account that I will soon part with £400,000 on 3 bedroom house in Knightsbridge I wish to talk to a lawyer concerning thehome move prior to instructing the firm. Is this something that you can arrange?
Absolutely - we would be pleased to talk to you we do not take any clients on without you speaking to the solicitor due to be conducting your property ownership legalities in Knightsbridge.There is no ‘factory style conveyancing’ - every client is an important person, not a case reference. The law firms that we put you in touch with believe that the figure you are provided with for your conveyancing in Knightsbridge should be the amount on the final invoice that you are charged.
As co-executor for the estate of my father I am disposing of a residence in Monmouth but I am based in Knightsbridge. My solicitor (approximately 235 kilometers awayneeds me to execute a statutory declaration prior to completion. Could you suggest a conveyancing solicitor in Knightsbridge who can attest this legal document for me?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are Knightsbridge based
What are your top tips when it comes to choosing a Knightsbridge conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Knightsbridge conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Knightsbridge conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be of use:
How familiar is the firm with lease extension legislation? How many lease extensions have they conducted in Knightsbridge in the last 12 months?
My wife and I have hit a brick wall in seeking a lease extension in Knightsbridge. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to decide the premium.
An example of a Lease Extension matter before the tribunal for a Knightsbridge property is Flat 3 47 Cadogan Square in December 2010. the Tribunal determined that the premium payable to the landord by the leaseholder for the lease extension was £732,935 This case related to 1 flat. The unexpired lease term was 13.33 years.
My aim is to purchase a ground floor maisonette in Knightsbridge. Conveyancing lawyer is awaiting, from the owner, building insurance paperwork. Earlier today I was advised that the owner needs to forward the insurance schedule for the flat above in addition. Why does my solicitor want to see the insurance for the other flat? Is it really required? We have been stalled for the last month…
It is not unheard of in leasehold conveyancing in Knightsbridge to find Conveyancing in Knightsbridge in a minority of cases reveals that the lease obliges the leasehold owners to insure their individual flats rather than the landlord insuring the complete property - which is definitely better. You should contact your lawyer but it would seem that your property lawyer is attempting to verify that the entire building is insured. Insuring your flat is no help when it comes to rebuilding after a fire if the other flat cannot be reconstructed for lack of insurance.