I am due to complete on the purchase of a house in St John's Wood but as a consequence of damage from some water damage at the property I have was able negotiate compensation from the vendor in the sum of £2k taking the form of a reduction in the price. I had intended this to be dealt with as part of a side agreement yet Skipton will not permit this. Should they have been informed?
Any conveyancing practitioner that is on a Skipton conveyancing panel is obliged to disclose to Skipton of any changes to the sale price. If you were to refuse your conveyancing practitioner to disclose the price change to Skipton then they would have to discontinue acting for you. In addition, Skipton and you would have to appoint a new conveyancing practitioner for your conveyancing in St John's Wood.
I am buying a semi-detached house in St John's Wood. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in St John's Wood you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in St John's Wood.
When it comes to mortgage companies such as Leeds Building Society, do St John's Wood property lawyers have to pay a yearly amount to be on the conveyancing panel?
We are not aware of any mortgage company fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I had a mortgage agreed in principle with Principality. St John's Wood conveyancing lawyers are chosen. What is the average time that one could expect to receive a mortgage offer from Principality?
There is no definitive answer here. Have Principality completed the survey? Have you advised Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I was told four weeks ago that my mortgage has been agreed to by Aldermore. Is it usual for Aldermore to only issue the offer once my solicitor in St John's Wood is approved on their conveyancing panel? Aldermore have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
We are buying a house and the lawyer has identified Chancel Repair to which the house could be obligated to pay given it’s proximity to the area of such a church. She has recommended insurance. Is this really warranted for conveyancing in St John's Wood
Unless a prior purchase of the premises took place post 12 October 2013 you could take it that lawyers delivering conveyancing in St John's Wood to remain recommending a chancel search and or insurance against a claim.
I work for a reputable estate agent office in St John's Wood where we have witnessed a number of flat sales jeopardised as a result of short leases. I have received conflicting advice from local St John's Wood conveyancing firms. Could you confirm whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
After years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in St John's Wood. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to determine the sum to be paid.
An example of a Lease Extension decision for a St John's Wood residence 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 was 60.16 years.
Me and mywife and I are searching for a responsive conveyancing solicitor in St John's Wood to buy a home. I am aware of the risk of getting ripped off and there's lots of St John's Wood conveyancing solicitors to pick from...who do I opt for?
Where you’ve not used a lawyer in the past, a personal recommendation via relatives or friends is a preferable starting point and is often the best gauge of quality. Alternatively, take a look at the client testimonials viewable on your solicitor’s website or use our search tool to find a conveyancing lawyer in St John's Wood.