I am progressing with the sale of my apartment in Kilburn Park and the estate agent has just telephoned to say that the purchasers are appointing a new property lawyer. I am told that this is due to the fact that the mortgage company will only deal with property lawyers on their conveyancing panel. On what basis would a major mortgage company only deal with certain solicitors rather the firm that they want to select for their conveyancing in Kilburn Park ?
Banks have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks attribute this action to a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any sway in the decision.
My Conveyancer in Kilburn Park has never been on on the Coventry Building Society Solicitor Panel. Is it possible for me to retain my family solicitor notwithstanding that they are excluded from the Coventry Building Society panel?
The limited options open to you here include:
- Carry on with your existing Kilburn Park lawyers but Coventry Building Society will need to use a lawyer on their panel. This will inevitably rack up the total legal charges as well as result in delays.
- Get a new lawyer to act in the purchase, obviously checking they are Coventry Building Society approved.
- Try to convince your Coventry Building Society based solicitor to attempt to join the Coventry Building Society panel
I have been told that property searches are a common cause of obstruction in Kilburn Park conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Kilburn Park.
What does commercial conveyancing in Kilburn Park cover?
Non domestic conveyancing in Kilburn Park incorporates a wide range of guidance, supplied by regulated solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
My wife and I purchased a leasehold house in Kilburn Park. Conveyancing and Lloyds TSB Bank mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Kilburn Park who previously acted has now retired. Any advice?
First make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Kilburn Park conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a first flat in Kilburn Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
Most certainly. We can put you in touch with a Kilburn Park conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Kilburn Park premises is 4 & 4A Charteris Road in June 2009. the Tribunal held that the price to be paid for the enfranchisement of 4/4a Charteris Road to be £15,510 for at 4and £15,694 for at 4a This case related to 2 flats. The unexpired residue of the current lease was 70.02 years.