My family solicitor has given a fee estimate £1200 for leasehold conveyancing in Bexleyheath. I am selling a newly refurbished detached home for £150,000. Are the quoted fees excessive? Is it in excess of what I should be paying for conveyancing in Bexleyheath?
The charges are a little high. If you shop around you may be able to shave off some of the cost by say a hundred pounds. On the other hand, you couldlive to regret choosing an an untested lawyer. Remember to enquire the firm can also act for your bank. You can employ our search tool to get a quote a Bexleyheath conveyancing company on the banks approved list of lawyers which can often include conveyancing solicitors in Bexleyheath.
My conveyancer has discovered a a legal deficiency with the lease for the flat we are buying in Bexleyheath. The other side have offered defective title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer has advised that he must be satisfied that the bank is happy with this solution. Who is the client here, us or the bank?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. These conveyancing instructions must be adhered to.
Finally the sale completed on my house in Bexleyheath last June yet the purchaser is telephoning me to say their conveyancer is waiting to hear from mine. What are the post completion sale legalities following completion?
Post completion of your house sale your conveyancer is obliged to deliver the transfer deeds and all additional paperwork to the purchaser's lawyers. Where relevant, your conveyancer should also evidence that the legal charge in favour of the lender has been paid off to the purchasers lawyers. There is unlikely to be post completion formalities peculiar conveyancing in Bexleyheath.
We have agreed to purchase a house in Bexleyheath. An unusual aspect is that the roof has a solar panel. Kent Reliance have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Kent Reliance your lawyer must comply with the formal requirements contained in Section 2 of UK Finance Lenders’ Handbook for Kent Reliance. The CML Handbook includes minimum requirements for solar panel roof-space leases, and lawyers are required to report to Kent Reliance where a lease fails to comply with these conditions. The conditions relate to the installation of panels on properties countrywide and is not isolated to Bexleyheath.
I have instructed a Bexleyheath lawyer having made sure that they are on the Santander conveyancing panel. Does my lawyer arrange the survey of the property?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Bexleyheath postcode. As you are getting a mortgage with Santander, you could contact them to see if they have a list of approved surveyors in Bexleyheath.
My offer on a house in Bexleyheath has been accepted, but there is a chain. The owners have placed an offer on on an apartment, however it’s not been accepted yet, and are looking at other properties booked. I have chosen a local conveyancing solicitor in Bexleyheath. What should be my next step? At what stage do I apply for the mortgage with Coventry BS?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then survey, Bexleyheath conveyancing search costs, etc). First, you should check that your solicitor is on the Coventry BS approved list. As to the next stages this very much depends on the uniqueness of your transaction, motivation for this property and on the state of the market. In a hot market many purchasers will apply for a home loan with Coventry BS and pay for the valuation and only if it comes back ok would they pay their lawyer to move forward with the conveyancing in Bexleyheath.
Due to the input of my in-laws I had a survey completed on a house in Bexleyheath ahead of retaining solicitors. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some banks tend refuse to issue a mortgage on this type of house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bexleyheath. Conveyancing may be slightly more expensive based on your lender's requirements.
We have reached the end of our tether in seeking a lease extension in Bexleyheath. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to decide the price payable.
An example of a Lease Extension decision for a Bexleyheath residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The unexpired residue of the current lease was 76 years.
When it comes to leasehold conveyancing in Bexleyheath what are the most frequent lease defects?
Leasehold conveyancing in Bexleyheath is not unique. All leases are unique and legal mistakes in the legal wording can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:
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A provision to repair to or maintain parts of the premises
You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.