My wife and I are getting closer to an exchange on a house in St John's Wood and my mum and dad have transferred the exchange deposit to my conveyancer. I am now told that as the deposit has not arrived from me my conveyancer needs to make a notification to my bank. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I disclosed to the lender regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The property lawyer is duty bound to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Does a directory service exist listing Skipton panel solicitors in St John's Wood on the Building Society Association’s Website?
No. There is no such tool on the CML or Building Society Association sites. Very few banks make their panel listings visible on the web. If you are looking for a St John's Wood solicitor on the Skipton please make the most of our facility.
We had chosen conveyancers based in St John's Wood on the Kent Reliance solicitor approved list. They have just billed me a separate fee for dealing with the Kent Reliance mortgage. Is this an additional conveyancing fee specified by Kent Reliance?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your lawyer can charge a fee for this. The fee is not set by Kent Reliance but by your St John's Wood property lawyer. Numerous firms on the Kent Reliance panel will levy an ‘acting for lender’ fee but many practices include it on their overall fee.
Planning on purchasing a apartment in St John's Wood. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Clydesdale 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 St John's Wood conveyancer is on the Clydesdale conveyancing panel.
I need some fast conveyancing in St John's Wood as I am under pressure to sign on the dotted line within 3 weeks. A home loan is not required. Is it possible to avoid the conveyancing searches to save money and time?
As you are not obtaining a home loan you are at liberty not to have searches conducted although no lawyer would recommend that you don't. Drawing on years of experience of conveyancing in St John's Wood the following are instances of issues that can crop up and adversely affect the marketability of the property: Refused Planning Applications, Outstanding Charges, Overdue Grants, Road Schemes,...
Are there restrictive covenants that are commonly picked up during conveyancing in St John's Wood?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in St John's Wood. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying my first flat in St John's Wood with a loan from Britannia. The sellers refused to reduce the price so I negotiated £7000 of extras instead. The estate agent suggested that I not inform my lawyer about this side-deal as it will affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Having checked my lease I have discovered that there are only 62 years unexpired on my flat in St John's Wood. I need to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you have used your best endeavours to find the freeholder. For most situations an enquiry agent would be helpful to try and locate and prepare an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing St John's Wood.
I own a two-bedroom flat in St John's Wood. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
Most definitely. We are happy to put you in touch with a St John's Wood conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a St John's Wood premises is Garden Flat 195 Goldhurst Terrace in May 2012. The Tribunal held in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease should be £60,855.00. This case was in relation to 1 flat. The unexpired term as at the valuation date was 60.16 years.