My wife and I are acquiring a brand new apartment in North Kensington and my lawyer is advising me that she is duty bound to the mortgage company to disclose incentives from the developer. I am nearing the developer’s deadline to exchange contracts and my preference is not to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
If you had a top tip for selecting a conveyancing solicitor in North Kensington what would it be?
Do not opt for the lowest North Kensington conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in North Kensington?
There are many recorded licenced Conveyancers in North Kensington and Solicitor practices in North Kensington offering conveyancing We would stress that both are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. Both can handle associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
We had selected conveyancing lawyers locally in North Kensington on the HSBC solicitor panel. They are now charging me a supplemental fee for the legal aspects of the HSBC mortgage. Is this a supplemental conveyancing fee specified by HSBC?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your conveyancer may levy a fee for this. The charge is not dictated by HSBC but by your North Kensington lawyer. Some firms on the HSBC panel will levy ’dealing with mortgage’ fee and others do not.
The estate agent has sent us the confirmation of our purchase of a new build flat in North Kensington. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in North Kensington
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Over the last few months I have been searching for a flat up to £245,000 and found one close by in North Kensington I like with amenity areas and transport links in the vicinity, however it's only got 51 remaining years left on the lease. I can't really find anything else in North Kensington for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage that many years will be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
I am selling my house. My former solicitors closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in North Kensington if that makes a difference.
Do use our search tool to help you find a solicitor for your conveyancing in North Kensington. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
We're new to the buying process - had an offer accepted, but the selling agent has warned us that the seller will only move forward if we use their preferred solicitors as they need a ‘quick sale’. My instinct tells me that we should use a local solicitor accustomed to conveyancing in North Kensington
We suspect that the owner is not behind this request. If they desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is counter productive. Bypass the agents and go straight to the sellers and make sure they comprehend that (a)you are serious buyers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you intend to instruct your preferred North Kensington conveyancing solicitors - rather thanthe ones that will earn their negotiator at the agency a kickback or achieve conveyancing figures demanded by senior management.