Can you help? My St James conveyancer is assuring me that she is duty bound toorder St James conveyancing searches asthe firm are on the HSBCapproved lawyer panel. Is this really necessary?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the CML Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out St James conveyancing searches.
Forgive me if this question is silly but I am wet behind the ears as FTB of a garden flat in St James. Do I receive the keys to the house on the completion date from my solicitor? If this is the case, I will instruct a High Street conveyancing solicitor in St James?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you will be able to receive the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.
I am currently in the process of buying my council flat in St James. I have a mortgage agreed with Principality. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
Nottingham have agreed my mortgage in principle, my bid on a property in St James has been accepted, now what?
The property agent will need to know who your solicitors are (make sure the lawyers are on the bank’s panel). Call up Nottingham or the broker and finalise any relevant paperwork. Nottingham will appoint a valuer who will get in contact with the selling agent or seller to arrange a time for the valuation to happen. Once carried out (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Nottingham will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in St James.
Will commercial conveyancing searches reveal proposed roadworks that may affect a commercial premises in St James?
Its becoming the norm that commercial conveyancing solicitors in St James will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in St James. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in St James.
For each commercial conveyancing transaction in St James it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to St James commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in St James.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one near me in St James I like with amenity areas and transport links nearby, the downside is that it only has 51 years on the lease. There is not much else in St James in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage the shortness of the lease may be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
How can the Landlord & Tenant Act 1954 impact my commercial offices in St James and how can your lawyers assist?
The particular law that you refer to affords a safeguard to commercial lessees, granting the a statutory right to make a request to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. St James is one of our hundreds of locations in which the firms we work with are located
Can you provide any top tips for leasehold conveyancing in St James with the aim of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in St James can be reduced if you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers’ solicitors. Some St James leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. Many landlords or Management Companies in St James charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in St James. In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in St James state that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord acquiescing to such changes. Where you fail to have the consents to hand do not communicate with the landlord without contacting your lawyer in the first instance. You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
I am the proprietor of a ground flat in St James. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
Where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to calculate the sum to be paid.
An example of a Lease Extension decision for a St James premises 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 was in relation to 2 flats. The remaining number of years on the lease was 56 years.