As someone clueless as to the North Kensington conveyancing process what’s the number one tip you can give me for the legal transfer of property in North Kensington
Not many law firms or advisers will tell you this but conveyancing in North Kensington and elsewhere in West London is an adversarial process. Put another way, when it comes to conveyancing there exists plenty of opportunity for friction between you and others involved in the ownership transfer. E.g., the seller, property agent and even potentially your mortgage company. Choosing a law firm for your conveyancing in North Kensington should not be taken lightly as your conveyancer is your adviser, and is the ONE party in the legal process whose role it is to look after your legal interests and to keep you safe.
Sometimes a third party with a vested interest will attempt to sway you that you should follow their advice. As an example, the estate agent may claim to be assisting by claiming that your conveyancer is dragging his heels. Or your financial adviser may advise you to do take action that is contrary to your lawyers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I am expecting a OIP from Kent Reliance this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Kent Reliance recommend any North Kensington solicitors on the Kent Reliance conveyancing panel, or is it better to go independently?
You will need to appoint North Kensington solicitors independently although you'll need to choose one on the Kent Reliance conveyancing panel. The solicitor represents both you and Kent Reliance through the process.
I was told three weeks ago that my mortgage has been agreed to by TSB. Is it usual for TSB to only issue the offer once my solicitor in North Kensington is approved on their conveyancing panel? TSB have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for TSB to deal with your lawyer's application to be on the TSB conveyancing panel. There's no guarantee that your solicitor will be accepted.
Santander have agreed my mortgage in principle, my bid on a property in North Kensington has been accepted, what happens next?
Your estate agent will need to know who your solicitors are (ensure that the conveyancers are on the lender’s panel). Telephone Santander or your financial adviser and finalise any relevant forms. Santander will instruct a valuer who will get in touch with the estate agent or seller to schedule a slot for the valuation to occur. Once conducted (assuming no problems) it takes approximately a fortnight to receive the mortgage offer. Santander will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in North Kensington.
I require expedited conveyancing in North Kensington as I am under pressure to complete in less than 3 weeks. A home loan is not required. Can I escape the need for conveyancing searches to save fees and time?
As you are are a mortgage free buyer you have the choice not to have searches carried out although no conveyancer would suggest that you don't. With lots of history conveyancing in North Kensington the following are instances of what can arise and therefore impact future mortgageability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Railway Schemes,...
I am buying a new build house in North Kensington with a loan from TSB. The builders refused to move on the price so I negotiated £7000 of extras instead. The house builders rep told me not disclose to my lawyer about the extras as it will adversely affect my mortgage with TSB. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My husband and I are 17 days into a freehold purchase having been referred to conveyancers by the selling agent to handle our conveyancing in North Kensington. We are not happy. Can you you assist me in finding new conveyancers?
A solicitor would have to be really bad to suggest changing them. Has your mortgage offer been issued? In the event that it has you need to advise them of the new contact details and ensure the loan are re-sent. Your solicitor ideally should be on the lenders panel to avoid added expenses and delays. So that should be your first question of the new conveyancers. The search tool will assist you in finding a lender approved lawyer for your home move in North Kensington
I own a leasehold flat in North Kensington. Conveyancing and Britannia mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in North Kensington who acted for me is not around. What should I do?
First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a North Kensington conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Following years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in North Kensington. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to judgment on the price payable.
An example of a Lease Extension decision 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 affected 1 flat. The remaining number of years on the lease was 37.79 years.