My lawyer has discovered a a problem with the lease for the flat we are buying in Kingston Vale. The seller’s lawyers have offered title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer has advised that he must be satisfied that the mortgage company is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with 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 conveyancing practitioner will have no choice but to discontinue acting for you.
We note that you have a search directory listing firms on the Virgin Money conveyancing panel. Do companies pay you a commission if I retain them for our conveyancing in Kingston Vale?
We are a listing service only for law firms wishing to communicate if they are on the Virgin Money conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Kingston Vale.
How does conveyancing in Kingston Vale differ for new build properties?
Most buyers of new build property in Kingston Vale contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Kingston Vale tend to purchase 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 used to new build conveyancing in Kingston Vale or who has acted in the same development.
Am I right to be suspicious about estate agents that I am dealing with are encouraging me to use a factory type conveyancing firm as opposed to a High Street Kingston Vale conveyancing company?
As with lots of service providers, often input from relatives can be extremely useful or valuable. Nevertheless there are many players in a conveyancing matter; estate agents, mortgage brokers and lenders may recommend solicitors to appoint. Sometimes the conveyancers might be known to one of the organisations as experts in their field, but occasionally there behind the scenes commercial relationship behind the recommendation. You have the discretion to select your preferred conveyancer. Don't forget that some mortgage providers specify a panel list of lawyers you are obliged to use for the mortgage aspect of your conveyancing.
My wife and I purchased a leasehold house in Kingston Vale. Conveyancing and HSBC Bank mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Kingston Vale who acted for me is not around. Do I pay?
First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Kingston Vale conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Having spent years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Kingston Vale. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to make a decision on the price payable.
An example of a Freehold Enfranchisement case for a Kingston Vale property is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case was in relation to 3 flats. The unexpired term was 66.25 years.