I am due to exchange buying a house in North Kensington but as a result of wreckage from a small fire at the property I have managed to agree reparation from the current proprietors of £3k taking the form of a reduction in the price. I had intended this to be addressed as part of a side agreement yet Lloyds will not permit this. Why were they notified?
Any conveyancing practitioner being on a Lloyds approved list is required to inform Lloyds of any changes to the sale price. If you prohibit your lawyer to report the price change to Lloyds then they would have to discontinue acting for you. In addition, Lloyds and you would have to appoint a new property lawyer for your conveyancing in North Kensington.
We just had an offer accepted to buy with Melton Mowbray Building Society. We have called around locally but am struggling to find a North Kensington conveyancing firm on the Melton Mowbray Building Society panel. Please you assist?
Please do make use of the search tool on this site. Pick the building society and type North Kensington or your preferred area and you will see a number of lawyer based in North Kensington or near you.
I am looking for a flat up to £305k and identified one near me in North Kensington I like with a park and station nearby, the downside is that it only has 61 years unexpired on the lease. There is not much else in North Kensington in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
As co-executor for the will of my uncle I am selling a residence in Monmouth but live in North Kensington. My conveyancer (based 235 miles awayrequires that I execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing lawyer in North Kensington to attest this legal document for me?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will be fine regardless of whether they are North Kensington based
I've recently bought a leasehold property in North Kensington. Do I have any liability for service charges for periods before completion of my purchase?
In a situation 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. It is an essential part 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 am the proprietor of a first floor flat in North Kensington. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
Most certainly. We can put you in touch with a North Kensington conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a North Kensington flat is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case affected 1 flat. The unexpired term was 37.79 years.