IfI was to buy a straightforward homein Barbican for cash and dispense with a survey and no local authority searches how much would I expect to have to pay for conveyancing in Barbican?
The only reduction in fees you would achieve is the Barbican conveyancing searches. Your conveyancer is obliged to do the vast majority of work - money laundering, correspond with your sellers property lawyer, stamp duty submission, register the property etc. A marginal saving might be made by not needing to register a mortgage however it won't be a lot.
The Barbican conveyancing solicitors that just started acting on my house acquisition in Barbican have without warning closed. They were on acting for me because I needed a solicitor on the Aldermore conveyancing panel and my family Barbican lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. 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 Aldermore 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 assist.
Will our conveyancer be raising enquiries concerning flooding during the conveyancing in Barbican.
Flooding is a growing risk for solicitors conducting conveyancing in Barbican. There are those who purchase a property in Barbican, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, however there are a various checks that can be carried out by the buyer or by their conveyancers which should figure out the risks in Barbican. The standard information given to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the owner to determine whether the premises has suffered from flooding. In the event that flooding has previously occurred which is not notified by the owner, then a purchaser may bring a claim for damages as a result of such an incorrect response. A purchaser’s conveyancers should also commission an environmental report. This will higlight whether there is any known flood risk. If so, more detailed inquiries should be conducted.
I have todaybecome aware that Arc property Solicitors have closed. They carried out my conveyancing in Barbican for a purchase of a leasehold apartment 10 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The quickest way to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Barbican conveyancing specialists.
I only have 68 years left on my flat in Barbican. I need to get lease extension but my landlord is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have used your best endeavours to track down the freeholder. In some cases an enquiry agent would be useful to conduct investigations and to produce a report to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the application to the County Court overseeing Barbican.
I inherited a basement flat in Barbican. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to determine the sum to be paid.
An example of a Lease Extension decision for a Barbican premises is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case related to 2 flats. The number of years remaining on the existing lease(s) was 72.39 years.