Is the fact that my conveyancer in Charing Cross is not identified on my lender's solicitor panel that there is a problem with the quality of her work?
That is more than likely a wrong assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Charing Cross conveyancing practice and enquire why they are no longer on the approved list for your bank.
As someone not used to the Charing Cross conveyancing process what’s the number one tip you can impart concerning the ownership transfer in Charing Cross
You may not hear this from too many lawyers but conveyancing in Charing Cross or throughout London is an adversarial experience. In other words, when it comes to conveyancing there exists lots of room for conflict between you and others involved in the legal transfer of property. For instance, the vendor, estate agent and even potentially the mortgage company. Choosing a lawyer for your conveyancing in Charing Cross an important selection as your conveyancer is your adviser, and is the ONE person in the process whose interest is to look after your best interests and to protect you.
On occasion a third party with a vested interest may try and convince you that it is in your interests to do things their way. For instance, the property agent may claim to be assisting by suggesting your lawyer is dragging his heels. Or your mortgage broker may try to convince you to do something that is against your solicitors advice. You should always trust your lawyer above all other parties in the conveyancing process.
I have been on the look out for a flat up to £245,000 and identified one close by in Charing Cross I like with amenity areas and station nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Charing Cross suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan the shortness of the lease will be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
I've recently bought a leasehold flat in Charing Cross. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation 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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
Having spent years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Charing Cross. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We can put you in touch with a Charing Cross conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Charing Cross flat 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 was in relation to 1 flat. The remaining number of years on the lease was 73.26 years.
Our sealed bid on property in Charing Cross was agreed to, the seller does however have a tied purchase. The current proprietors have offered on a property, but it’s not yet tied up, and are looking at other properties in the pipeline. I have instructed a nearby conveyancing lawyer in Charing Cross. What do I do now? At what point should I apply for the mortgage with Coventry BS?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey, Charing Cross conveyancing search fees, etc). First, you should ensure that your lawyer is on the Coventry BS approved list. Regarding the subsequent phase this very much depends on the specifics of your case, desire for this property and on the state of the market. During a buoyant market some buyers will apply for the mortgage with Coventry BS and pay for the survey and only if it comes back ok would they pay their conveyancer to press on with the conveyancing in Charing Cross.