How up to date is your search tool for Chadwell Heath conveyancing solicitors on the Kent Reliance conveyancing panel? Do Kent Reliance send you an updated list?
Chadwell Heath conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.
I am purchasing a garden flat in Chadwell Heath. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Chadwell Heath you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Chadwell Heath.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Chadwell Heath?
Two types of professional can perform conveyancing in Chadwell Heath namely CLC regulated conveyancers or solicitors. Both professionals provide conveyancing services that required to complete the sale or acquisition of property. They are both required to perform Chadwell Heath conveyancing on similar standards and guidelines so you can be safe in the knowledge that your conveyancing will be professionally conducted and that the requirements and steps will be appropriately followed.
Is it the case that all Chadwell Heath solicitor firms on the Santander conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Santander approved list of solicitors they would need to be regulated by the SRA. Many banks do permit licenced conveyancers on their panel in which case such practice would be overseen by the CLC.
I have a mortgage with Kent Reliance for my property in Chadwell Heath. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
Your original mortgage agreement with Kent Reliance will provide that you need their approval prior to renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel firm.
3 months have elapsed following my purchase conveyancing in Chadwell Heath completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. 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 property 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.
Do you have any advice for leasehold conveyancing in Chadwell Heath with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Chadwell Heath can be reduced where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ solicitors. You believe that you know the number of years left on your lease but you should verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is below 80 years. It is therefore important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unsettled. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than ongoing. A minority of Chadwell Heath leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
Following months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Chadwell Heath. Can we issue an application to the Residential Property Tribunal Service?
if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the price payable.
An example of a Lease Extension case for a Chadwell Heath residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The unexpired lease term was 61.36 years.
I dont have enough spare funds to pay a 10% deposit on my flat purchase in Chadwell Heath , but I still want to proceed. What can I do?
One option is to try and agree a lesser deposit. Many sellers will agree to a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute