My previous solicitor has given a fee estimate £995 for no sale no fee conveyancing in West Kensington. I am looking to sell a modern property for £125,000. Is this overpriced? Is it above what I should be paying for conveyancing in West Kensington?
The estimate does seem a tad overpriced. If you are willing to invest time contrasting charges you could get the conveyancing a bit cheaper by as much as a hundred pounds. On the other hand, you maycome to regret opting for an a cheaper lawyer. Don't forget to ensure the solicitor can act for your bank. Do employ our comparison tool to choose a West Kensington conveyancing company on the lender’s member panel which can often include conveyancing solicitors in West Kensington.
I'm buying a new build house in West Kensington benefiting from help to buy. The builders would not move on the price so I negotiated 6k of extras instead. The property agent told me not to tell my solicitor about the side-deal as it may affect my loan with Platform Home Loans Ltd. Is this normal?.
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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. West Kensington is where the house is located. Can you offer any guidance?
Flying freeholds in West Kensington are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside West Kensington you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in West Kensington may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
We are one month into a leasehold purchase having been directed to a firm by the local agent to do our conveyancing in West Kensington. I am not happy. Can you you assist me in finding new lawyers?
They would need to be very bad in order to consider replacing them. Has your mortgage offer been issued? If so you will need to inform them of the new conveyancer and ensure the offer are re-sent. Your conveyancer needs to be on the mortgage company panel to avoid escalating costs and frustration. That should be your starting point. The find a solicitor tool will assist you in finding a bank approved conveyancer for your home move in West Kensington
I've recently bought a leasehold flat in West Kensington. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a basement flat in West Kensington. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
Absolutely. We can put you in touch with a West Kensington conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a West Kensington residence is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case related to 1 flat. The unexpired term was 37.79 years.
Our lawyer in West Kensington has identified a defect with the lease for the apartment we are buying in West Kensington. The other side have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor says that as he is on the lender conveyancing panel he must check that the lender is happy with this solution. Are we the client or is the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.