Me and my partner are hoping to purchase a 2 bedroom flat in Kingsbury with a mortgage. We have a Kingsbury solicitor, however the lender advise he's not on their "panel". It appears that we have little option but to use one of the mortgage company panel solicitors or continue with our Kingsbury conveyancing practitioner as well as pay for one of their panel ones to act for them. We regard this is unjust; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Kingsbury conveyancing lawyer to apply to be on the conveyancing panel.
When can the exchange of contracts take place for purchase conveyancing in Kingsbury and do I need to be at the conveyancers branch?
If you are local to one of the conveyancing solicitors in Kingsbury you are invited in to sign contracts. However, the firms we recommend offer a countrywide conveyancing service and give just as diligent and professional a job for you when dealing with you electronically. The signing of the contract is not the important part. A signed contract is just a prerequisite for the solicitor to address the formalities at the suitable time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Kingsbury)to be in the office at the appropriate time.
How does conveyancing in Kingsbury differ for new build properties?
Most buyers of new build or newly converted property in Kingsbury contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Kingsbury 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 conveyancing solicitors 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 used to new build conveyancing in Kingsbury or who has acted in the same development.
I decided to have a survey done on a property in Kingsbury prior to retaining lawyers. I have been told that there is a flying freehold aspect to the house. The surveyor advised that some banks tend not issue a mortgage on this type of premises.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. Should you wish to call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Kingsbury. Conveyancing will be smoother if you use a solicitor in Kingsbury especially if they are accustomed to such properties in Kingsbury.
I have recently realised that I have 68 years remaining on my lease in Kingsbury. I now wish to get lease extension but my landlord is missing. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to locate the lessor. In some cases an enquiry agent would be helpful to conduct investigations and to produce an expert document which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Kingsbury.
I have given up seeking a lease extension in Kingsbury. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a missing landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to assess the premium.
An example of a Lease Extension decision for a Kingsbury premises is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case affected 1 flat. The remaining number of years on the lease was 70.25 years.