My husband and I are purchasing a newly built apartment in St James and my conveyancer is informing me that she has to the bank to disclose incentives from the developer. I am on a tight deadline to exchange contracts and I have no desire to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Can you explain why leasehold purchase conveyancing in St James is more expensive?
St James leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I bought my house on 2 June and my personal details is yet to be registered. Should I be concerned? My conveyancing solicitor in St James advises it would be dealt with in less than a month. Are transfers in St James uniquely lengthy to register?
As far as conveyancing in St James is concerned, registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can differ subject to the party submitting the application, whether it is in order and whether the Land registry communicate with any third persons or bodies. At present approximately 80% of such applications are fully dealt with within two weeks but occasionally there can be longer delays. Registration takes place once the purchaser is living at the premises so an expedited registration is not always top priority yet if there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for an expedited registration.
In what way can the Landlord & Tenant Act 1954 impact my commercial premises in St James and how can you help?
The particular law that you refer to affords protection to commercial lessees, giving them the legal entitlement to make a request to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. St James is one of the hundreds of locations in which the firms we work with are located
My husband and I are novice buyers - agreed a price, but the selling agent informed us that the seller will only issue a contract if we instruct their recommended solicitors as they need an ‘expedited deal’. We would rather use a high street conveyancer with experience of conveyancing in St James
We suspect that the seller is unaware of this ultimatum. If they want ‘a quick sale', alienating a serious purchaser is is going to put the whole deal at risk. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to go, with finances arranged © you are chain free (d) you intend to proceed fast (e)however you will continue to instruct your preferred St James conveyancing solicitors - not the ones that will give their estate agent a introducer fee or hit his conveyancing thresholds set by corporate headquarters.
I own a leasehold flat in St James. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in St James who previously acted has now retired. Any advice?
The first thing you should do is contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a St James conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a St James conveyancing firm to act on my behalf?
You certainly can. We can put you in touch with a St James conveyancing firm who can help.
An example of a Lease Extension case for a St James flat 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 related to 2 flats. The number of years remaining on the existing lease(s) was 56 years.