Will commercial conveyancing searches reveal impending roadworks that could impact a commercial premises in South Kensington?

Many commercial conveyancing solicitors in South Kensington will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in South Kensington. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in South Kensington.

For every commercial conveyancing transaction in South Kensington it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may result in delays to South Kensington commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in South Kensington.

How does conveyancing in South Kensington differ for newly converted properties?

Most buyers of new build premises in South Kensington contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is ready to move into. This is because builders in South Kensington tend to purchase the land, 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 accustomed to new build conveyancing in South Kensington or who has acted in the same development.

I am looking for a leasehold apartment up to £235,500 and found one round the corner in South Kensington I like with amenity areas and station nearby, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in South Kensington suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you need a mortgage the shortness of the lease may be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.

Do I need to be suspicious about brokers that I am dealing with are suggesting a factory type conveyancing firm as opposed to a High Street South Kensington conveyancing firm?

As with many professional services, often referrals from family and friends can be extremely useful or valuable. But there are numerous parties with a keen interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies may suggest lawyers to select. On occasion these solicitors might be known to one of the organisations as experts in their field, but occasionally there behind the scenes financial incentive behind the endorsement. You are free to appoint your preferred lawyer. Don't forget that most mortgage providers operate an approved list of law firms you are obliged to use for the lender aspect of your home move.

Due to complete next month on a leasehold property in South Kensington. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in South Kensington should include some of the following:

Repair and maintenance of the property Will you be prohibited or prevented from having pets in the property? Your conveyancers should enable you to have an understanding of the insurance provisions What you can do if an adjoining owner breaches a clause of their lease?

Notwithstanding our best efforts, we have been unsuccessful in trying to purchase the freehold in South Kensington. Can this matter be resolved via the Leasehold Valuation Tribunal?

Most definitely. We can put you in touch with a South Kensington conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a South Kensington property is Flat 16 21/22 Stanhope Gardens in November 2010. the Leasehold Valuation Tribunal concluded that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993, was £106,975 This case related to 1 flat. The unexpired residue of the current lease was 51.93 years.