This question may be naive but I am unexperienced as a first time buyer of a ground floor flat in Broadstairs. Do I pick up the keys to the house on the completion date from my solicitor? If so, I will instruct a local conveyancing solicitor in Broadstairs?
On the day of completion you do not need to go to the conveyancers office in Broadstairs. Conveyancing lawyers for you will transfer the completion advance to the owner’s conveyancers, and shortly after the monies have arrived, you should be able to pick up the keys from the selling Agents and start moving into the property. Usually this occurs early afternoon.
I have today made my last payment due on my mortgage with Lloyds. I assume I don't need a Broadstairs conveyancer on the Lloyds panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Lloyds 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 Lloyds mortgage from the register. Lloyds, 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:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Broadstairs. I have a mortgage agreed with HSBC. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
My wife and I are planning on selling our property in Broadstairs and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A local lawyer would know that there is no such problem. For the life of me I don't know why the buyers are using an online conveyancing practice rather than a conveyancing solicitor in Broadstairs. We have lived in Broadstairs for three years we know that this is a non issue. Should we contact our local Authority to seek confirmation that there is no issue.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I am buying a new build house in Broadstairs with the aid of help to buy. The builders refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not inform my solicitor about this extras as it will adversely affect my mortgage with Chelsea Building Society. Do I keep my lawyer in the dark?.
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 have been on the look out for a flat up to £195,000 and found one close by in Broadstairs I like with open areas and station in the vicinity, however it's only got 51 years on the lease. I can't really find anything else in Broadstairs for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the shortness of the lease will be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
I am four weeks into a leasehold purchase having been referred to a firm by the local agent to perform conveyancing in Broadstairs. We are not happy. Could you help me find new lawyers?
A conveyancer would have to be really poor in order to consider diss instructing them. Has the mortgage offer been generated? If so you need to make them aware of the replacement conveyancer and get the loan are issued to the new lawyers. Your conveyancer should be on the mortgage company approved list to avoid added costs and complications. So that should be your first question of the new solicitors. Our find a solicitor tool will assist you in finding a bank approved lawyer for your home move in Broadstairs
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Broadstairs. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Broadstairs ?
Most houses in Broadstairs are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. it is apparent that you are purchasing in Broadstairs in which case you should be shopping around for a Broadstairs conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will advise you fully on all the issues.
I am the registered owner of a 2 bed flat in Broadstairs, conveyancing having been completed 8 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Broadstairs with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 per annum. The lease terminates on 21st October 2101
With only 78 years unexpired we estimate the price of your lease extension to span between £7,600 and £8,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.