I plan on buying a leasehold flat in North Kensington. My lawyer has never been on on the bank solicitor list. Am I still permitted to continue with my North Kensington conveyancing solicitor notwithstanding that they are not on the lender approved list?
You have a couple of alternatives open to you here
- Proceed with your chosen North Kensington property lawyer but your bank will no doubt appoint a lawyer on their approved panel. The net result is additional cost together with likely delay.
- Appoint a new conveyancing practitioner to conduct the conveyancing, ensuring that they are on the mortgage company conveyancing panel.
- Convince your conveyancer to seek to join the bank panel
In researching consumer advice sites for an affordable solicitor in North Kensington, many say that I must look for a CQS kitemarked lawyer. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to prudent and efficient conveyancing processes via the scheme protocol the standard covers many companies who handle conveyancing in North Kensington.
I am assisting my aunt sell her flat in North Kensington. Does the solicitor arrange an EPC or do I organise this?
Following the abolition of Home Information Packs, EPC’s became a mandatory component of moving house. An EPC needs to be to hand in advance of the property being advertised. This is not a task that conveyancers normally organise. If you are using a North Kensington conveyancing lawyer they might be willing to arrange EPC’s given their relationships with long established North Kensington providers
I happen to be the sole beneficiary of my late father’s estate and I have everything in my name alone, including the my former home in North Kensington. The North Kensington property was put into my name in October. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership may be treated the same way as though I had purchased the property in October. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. Most lenders would take a practical view as this requirement is chiefly there to capture subsales or the quick reselling of properties.
Two weeks ago we had a mortgage agreed in principle with Principality. North Kensington conveyancing solicitors have been chosen. What is the average time that one could expect to receive a mortgage offer from Principality?
There is no definitive answer here. Have Principality completed the survey? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I'm buying my first flat in North Kensington benefiting from help to buy. The builders refused to reduce the price so I negotiated 6k of additionals instead. The sale representative advised me not inform my solicitor about this extras as it could jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I have just started marketing my basement flat in North Kensington. Conveyancing lawyers have not yet been instructed, however I have recently had a half-yearly maintenance charge invoice – what should I do?
It best that you discharge the invoice as usual given that all rents and maintenance invoices will be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Having spent years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in North Kensington. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to judgment on the price.
An example of a Lease Extension matter before the tribunal for a North Kensington property 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 number of years remaining on the existing lease(s) was 37.79 years.
My fiance and I are hoping to buy a three room bungalowin North Kensington with a home loan from a lender. We like our solicitor in North Kensington but our mortgage company says he's not approved on their "panel". We have to appoint one of the our bank panel solicitors or stay with our North Kensington conveyancer and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The lender mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank's conveyancing panel. in the past, most lenders had large numbers of law firms on their panels, including almost all conveyancing solicitors in North Kensington : a mortgagee 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 lawyer to apply to be on the conveyancing panel for your lender.