Unfortunately I am unable to travel far from St James's. I would like to know the logic why all St James's lawyers are not on all mortgage company panels?
Banks highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The dismissal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for mortgage companies to review their conveyancing panels, which triggered a major policy change in the sector. This led to mortgage companies pruning less reputable firms from their books of approved property lawyers .
My fiancee and I are acquiring our first property. The conveyancing practitioner has calledto ask if we wish to order additional conveyancing searches. We are really unsure what's appropriate for conveyancing in St James's
The extent of St James's conveyancing searches depends primarily on the property, the location, the likelihood of any of these risks, your familiarity of the region and risks, your overall approach to risk. What is important is that you adequately comprehend what information the searches could supply. You may then decide if you consider that you need that search. Where you are unclear, ask your conveyancing practitioner to explain.
It is 10 years ago since I purchased my house in St James's. Conveyancing lawyers have just been instructed on the sale but I can't track down the title documents. Is this a problem?
You need not be too concerned. First there is a chance that the deeds will be with the mortgage company or they could be archived with the lawyers who handled the purchase. Secondly in most cases the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors obtaining current official copies of the land registers. The vast majority of conveyancing in St James's involves registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
Will our solicitor be raising enquiries regarding flooding as part of the conveyancing in St James's.
The risk of flooding is if increasing concern for lawyers dealing with homes in St James's. Plenty of people will buy a house in St James's, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to offer advice on flood risk, however there are a numerous searches that can be undertaken by the purchaser or by their solicitors which can figure out the risks in St James's. The standard completed inquiry forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual question of the owner to determine whether the premises has ever been flooded. In the event that the premises has been flooded in past and is not disclosed by the owner, then a purchaser may issue a compensation claim resulting from an inaccurate reply. The buyer’s conveyancers may also order an enviro search. This should reveal if there is any known flood risk. If so, additional inquiries should be made.
Despite weeks of looking the Title Certificate and documents to our property are lost. The lawyers who did the conveyancing in St James's 4 years ago are no longer around. What are my options?
As long as you have a registered title the details of your ownership will be held by the Land Registry with a Title Number. It is possible to execute a search at the Land Registry, find your property and secure current copies of the property title for less than a fiver. If the property is Leasehold then the Land Registry will in most cases retain a file copy of the Registered Lease and again, a copy can be retrieved for twenty pounds.
All being well we will complete the sale of our £150,000 garden flat in St James's on Monday in a week. The freeholder has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in St James's?
For most leasehold sales in St James's conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
Answering conveyancing due diligence questions
Where consent is required before sale in St James's
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Notwithstanding our best efforts, we have been unsuccessful in negotiating a lease extension in St James's. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a St James's conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a St James's property is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case related to 1 flat. The unexpired residue of the current lease was 73.26 years.