My partner and I are acquiring a brand new duplex in West Brompton and my solicitor is telling me that she is duty bound to the bank to disclose incentives from the developer. I am under pressure to sign contracts and I would rather not delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We are buying a flat and require a conveyancing solicitor in West Brompton who is on the Clydesdale solicitor panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Clydesdale . We don't recommend any particular firms conducting conveyancing in West Brompton.
Does a directory service exist listing Co-operative panel conveyancers in West Brompton on the Council of Mortgage Lender’s Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings open the public online. Where you are looking for a West Brompton lawyer on the Co-operative please use our facility.
I am currently in the process of buying my council flat in West Brompton. I have a mortgage offer with Barclays. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
The mortgage over my property is with Yorkshire BS for my property in West Brompton. Conveyancing has been completed some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Yorkshire BS?
You must advise Yorkshire BS before letting out your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. It may be that Yorkshire BS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Yorkshire BS directly. It should not be necessary to do this via a Yorkshire BS conveyancing panel solicitor.
I am purchasing a property and the conveyancer has identified Chancel Repair for which the house could be obligated to contribute to because it falls into the area of such a church. She has mentioned insurance. Is this really necessary for conveyancing in West Brompton
Unless a previous acquisition of the house completed after 12 October 2013 you could take it that solicitors delivering conveyancing in West Brompton to remain recommending a chancel search and or chancel repair liability insurance.
I've found a house that seems to meet my requirements, at a great price which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in West Brompton. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
The majority of houses in West Brompton are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in West Brompton in which case you should be looking for a West Brompton conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.
I am the registered owner of a second floor flat in West Brompton. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to calculate the sum to be paid.
An example of a Freehold Enfranchisement case for a West Brompton property is 5 Wetherby Gardens in June 2014. the Tribunal concluded that the price to be paid for the freehold of the property was £2,369,452. This case was in relation to 5 flats. The unexpired residue of the current lease was 38.98 years.