lenderpanel

Find a Earls Court Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Earls Court? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Earls Court conveyancing at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Earls Court conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Earls Court

Is it the case that all Earls Court solicitor firms on the Coventry BS conveyancing panel are governed by the Solicitors Regulatory Authority?

As solicitors, in order to be on the Coventry BS conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. The majority of mortgage companies do allow licenced conveyancers on their panel and in such a situation the organisation would be regulated by the CLC.

My partner and I have organised a further advance on our mortgage from Lloyds as we intend to carry out renovations to our house in Earls Court. Are we obliged to select a high street Earls Court solicitor on the Lloyds conveyancing panel to handle the legals?

Lloyds would not normally instruct firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds list.

I have today made my last payment due on my mortgage with TSB. I assume I don't need a Earls Court conveyancer on the TSB panel to remove the mortgage at the Land Registry. Am I right?

If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

  1. but are not moving to another property
  2. where TSB has sent the Land Registry the discharge electronically, and
  3. TSB has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your TSB mortgage has been paid off.

4 months have elapsed following my purchase conveyancing in Earls Court concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I am buying a new build house in Earls Court benefiting from help to buy. The builders would not reduce the price so I negotiated £7000 of extras instead. The estate agent suggested that I not to tell my solicitor about the side-deal as it would affect my mortgage with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I decided to have a survey done on a property in Earls Court in advance of appointing lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some mortgage companies will refuse to grant a loan on such a property.

It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you contact us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Earls Court. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Earls Court to see if the conveyancing will be more expensive.

I am tempted by the attractive purchase price for a two flats in Earls Court which have in the region of forty five years remaining on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Earls Court is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the property. The majority of buyers and banks, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Earls Court conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I inherited a ground floor flat in Earls Court. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?

Where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to calculate the premium.

An example of a Freehold Enfranchisement decision for a Earls Court flat 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 related to 5 flats. The remaining number of years on the lease was 38.98 years.

Last updated

Find out more about how flying freehold can affect your the value of a property.