Me and my fiance are purchasing a 3 bedroom apartment in North Kensington with a mortgage. We like our North Kensington conveyancer, but the lender advise she’s not on their "panel". It appears that we have little option but to instruct one of the mortgage company panel solicitors or retain our North Kensington property lawyer and pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your North Kensington conveyancing solicitor to apply to be on the conveyancing panel.
We note that you have a search directory identifying solicitors on the Nottingham conveyancing panel. Do firms pay you a referral fee if I appoint them for our conveyancing in North Kensington?
We are a listing service only for law firms wishing to communicate if they are on the Nottingham conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in North Kensington.
My apartment in North Kensington is up for sale and I have accepted an offer. Does my solicitor need to be required to be on the Barclays conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Barclays conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
I need some expedited conveyancing in North Kensington as I have a deadline to sign on the dotted line within one month. Thankfully I do not require a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
As you are not obtaining a home loan you have the choice not to do searches although no law firm would suggest that you don't. With plenty of history conveyancing in North Kensington the following are examples of issues that can arise and adversely affect future mortgageability: Enforcement Actions, Overdue Fees, Overdue Grants, Road Schemes,...
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, no chain conveyancing. North Kensington is the location of the property. Is there any guidance you can give?
Flying freeholds in North Kensington are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in North Kensington you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in North Kensington may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Having had my offer accepted I require leasehold conveyancing in North Kensington. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in North Kensington - then the leasehold title will always include the short particulars 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 proprietor of a basement flat in North Kensington. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
Absolutely. We can put you in touch with a North Kensington conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a North Kensington flat is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case related to 1 flat. The unexpired lease term was 37.79 years.