What guidance do you have for searching for cost effective conveyancing in Pimlico?

Option 1 is to ask your friends and family whom they would instruct.

Second, use a comparison service on the internet for conveyancing in Pimlico. Telephone two or three from the list and invite them to send you their conveyancing charges and speak to the lawyer who will handle the legal process beforecommitting.

Third is to use this site to help you find the right solicitors taking into account your own factors including the type of property,deadlines, complications and who your intended mortgage company is. Don't take the bait of low cost conveyancing in Pimlico

Is it necessary to pay for insurance to cover chancel repairs when buying a property in Pimlico?

Unless a prior purchase of the property took place after 12 October 2013 you may take it that lawyers handling conveyancing in Pimlico to remain recommending a chancel search and or insurance against a claim.

I am purchasing a new build house in Pimlico with a loan from Norwich and Peterborough Building Society. The developers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The property agent told me not to tell my conveyancer about this deal as it will put at risk 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 am looking at a two apartments in Pimlico both have in the region of 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Pimlico is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most purchasers and lenders, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 property 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 Pimlico conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 the agreed 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 am the leaseholder of a ground floor flat in Pimlico. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?

Absolutely. We are happy to put you in touch with a Pimlico conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Pimlico property is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case affected 2 flats. The unexpired term was 56 years.

My sealed bid on property in Pimlico has been agreed to, but there is a chain. The owners have offered on a property, however it’s not yet agreed to, and has viewings of other apartments in the pipeline. I have chosen a local conveyancing lawyer in Pimlico. What do I do now? When do I get the mortgage application with UBS going with UBS?

It is usual to have anxieties where there is an associated chain given your reluctance to be too out of pocket too early (home loan application is approx £1k, then survey, Pimlico conveyancing search fees, etc). The first thing to do is ensure that your lawyer is on the UBS approved list. Regarding the next phase this very much depends on the uniqueness of your case, desire for the property and on the state of the market. During a rising market many buyers would apply for a home loan with UBS and arrange for the survey and only if it comes back ok would they ask their solicitor to move forward with the conveyancing in Pimlico.