I am buying a flat in St Pancras. My Conveyancer has never been on on the mortgage company solicitor panel. Can I still continue with my St Pancras conveyancing solicitor notwithstanding that they are excluded from the lender approved list?
Your options include
- Complete the deal with your existing St Pancras lawyer but your bank will need to use a conveyancer from their conveyancing panel. The net result is additional charges together with likely interruption.
- Appoint a new conveyancing practitioner to conduct the conveyancing, ensuring that they are on the bank conveyancing panel.
- Convince your conveyancing practitioner to do everything within their powers to get accepted on the lender’s conveyancing panel
Why do I have to pay up front for conveyancing in St Pancras?
If you are buying a property in St Pancras your lawyer will request that you place them with monies to cover the search fees. Ordinarily this is requested to cover the fees of the conveyancing searches. When the down payment is payable against the purchase price then this will be required shortly prior to contracts are exchanged. The final balance that is needed will be payable a couple of days ahead of the day of completion.
My mortgage company has suggested a law firm on their panel based in St Pancras but I would rather choose a conveyancing lawyer in St Pancras local to me. Are you able to assist?
It is by no means the case that all St Pancras conveyancing practitioners are on all lender’s conveyancing panel. Please make use of our find an approved solicitor tool to choose a St Pancras conveyancing conveyancer on the on the mortgage company panel.
How does conveyancing in St Pancras differ for newly converted properties?
Most buyers of new build or newly converted property in St Pancras contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is completed. This is because new home sellers in St Pancras usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in St Pancras or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a house in St Pancras in advance of appointing conveyancers. I have been told that there is a flying freehold overhang to the property. The surveyor has said that some banks will not give a mortgage on such a home.
It varies from the lender to lender. HSBC has different requirements from Halifax. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in St Pancras. Conveyancing will be smoother if you use a solicitor in St Pancras especially if they are familiar with such properties in St Pancras.
I am on look out for some leasehold conveyancing in St Pancras. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is registered - and 99.9% are in St Pancras - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have given up seeking a lease extension in St Pancras. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We are happy to put you in touch with a St Pancras conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a St Pancras residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The unexpired term was 66.8 years.