I am not well enough to travel far from Kennington. I would like to know the logic why all Kennington property lawyers are not on all lender panels?
As unjust as it may appear for mortgage companies to limit who can act for them, from the public’s or conveyancer’s point of view, the the contrary view is that lenders are becoming ever more anxious and regard it vital to protect them against mortgage fraud. As a result of this concern lenders have restricted their conveyancing panel to a size that they are happy to control.
The Kennington conveyancing firm that just started acting on my house acquisition in Kennington have without warning closed. I chose them because I needed a solicitor on the Co-operative conveyancing panel and my preferred Kennington lawyer was not. I paid them 275 plus VAT on account. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Co-operative conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
Me and my brother purchased a semi-detached Edwardian property in Kennington. Conveyancing solicitor represented me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold with the exact same address. Is it worth asking Coventry Building Society to clarify?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Kennington and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing solicitor who carried out the work.
I am using a search engine for the phrase cheap conveyancing in Kennington it shows results of many property lawyerslocally. With so much choice what is the best way to find the right conveyancer for me?
The ideal method of choosing the right conveyancer is via trusted testimonial, so seek the opinion of friends and family who have acquired a property in Kennington or the reputable estate agent or financial adviser. Charges for conveyancing in Kennington differ, so it's a good idea to secure a minimum of three costs illustrations from varying types of companies. Be sure to secure confirmation that the fees are fixed.
Last July I purchased a leasehold house in Kennington. Am I liable to pay service charges for periods before my ownership?
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 ensure 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).
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Kennington conveyancing firm to assist?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to determine the price.
An example of a Lease Extension case for a Kennington property is Ground Floor Flat 39 Bronsart Road in May 2010. Following a vesting order by West London County Court the Leasehold Valuation Tribunal concluded that the price to be paid for the extended lease of the premises was Thirteen Thousand Two hundred pounds (£13,200) in accordance with the valuation. The extended lease was granted for a term of 90 years from the expiry date of the Lease and at a peppercorn ground rent from the date of the vesting order. This case related to 1 flat. The unexpired residue of the current lease was 74.77 years.