We are about to exchange contracts for a semi detached house in Pimlico. We encountered a problem. The mortgage offer with Nottingham Building Society expires on 30/1/2023 but the sellers are suggesting a completion date of 1/2/2023. Can one prolong the loan expiry date?
The person best placed to deal with your issue is your lawyer who should calculate whether they should be discussing with the lender, vendor’s conveyancers, selling agents or indeed all parties given the circumstances your conveyancing to date.
In what way does my ID and proof of funds have anything to do with my conveyancing in Pimlico? Why is this being asked of me?
Pimlico conveyancing solicitors as well as nationwide property lawyers throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to check the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and proof of address (usually a Bank Statement no more than three months).
Confirmation of the origin of funds is also necessary in accordance with the money laundering statutes as solicitors have a duty to ensure that the money you are utilising to purchase a property (be it the exchange deposit or the full purchase amount if you are a cash purchaser) has originated from an acceptable source (such as an inheritance) and is not the proceeds of illegitimate activity.
I have today made my last payment due on my mortgage with HSBC. I assume I don't need a Pimlico property lawyer on the HSBC panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
I can not fathom if my lender requires a lease extension. I have telephoned my Pimlico building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Pimlico conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend based on their specific requirements. I have no idea who is right.
Provided that the conveyancer is on the lender approved list, they must follow the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
About to purchase house in Pimlico. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Pimlico conveyancer is on the Barclays conveyancing panel.
I purchased a 4 bedroom Georgian property in Pimlico. Conveyancing lawyer acted for me and Chelsea Building Society. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold under the exact same property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Pimlico and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing solicitor who carried out the work.
Given that I am about to part with over three hundred thousand on a property in Pimlico I would like to have a conversation with the solicitor regarding thehome move ahead of giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the lawyer due to be carrying out your conveyancing in Pimlico.There is no ‘factory style conveyancing’ - each client is unique person, not a matter reference. The solicitors that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Pimlico should be the figure that you are charged.
After months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Pimlico. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the LVT to determine the sum to be paid.
An example of a Lease Extension decision for a Pimlico property is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case affected 2 flats. The unexpired term was 56 years.
In relation to leasehold conveyancing in Pimlico what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Pimlico. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
-
Insurance obligations
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Barnsley Building Society, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.