Our Chatham solicitor has spotted an inconsistency between the surveyor’s assumptions in the home valuation report and what is in the legal papers for the property. My lawyer has advised that he must ensure that the lender is happy with this discrepancy and is still content to lend. Is my solicitor’s course or action appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
The Chatham conveyancing solicitors that I recently instructed on my house acquisition in Chatham have suddenly closed. They were on acting for me because I had to have a firm on the Kent Reliance conveyancing panel and my preferred Chatham lawyer was not. I sent them a cheque for £250 in advance. What do I do now?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Kent Reliance conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
About to purchase a new build apartment in Chatham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Chatham
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Forfeiture - bankruptcy or liquidation must not apply under this provision. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
My step-father has recommend that I use his conveyancers in Chatham. Do I take his advice?
No doubt the best way to find a conveyancing practitioner is to seek recommendations from friends or family who have actually experience in using the solicitor you're considering.
I am in need of some leasehold conveyancing in Chatham. Before I get started I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Chatham - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Chatham - A selection of Queries before Purchasing
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Who are the managing agents? In the main the cost for major works tend not to be incorporated into the service charges, albeit that there some managing agents in Chatham obliged leaseholders to pay into a reserve fund and this is used to offset against major repairs or maintenance. What prohibitions exist in the Chatham Lease?
I'm buying a apartment in Chatham. I can find my conveyancer's company on the CLC list, but I can't see my lawyer's name as listed on the regulator's website. Should I be concerned?
Not all staff in the practice must be listed by the regulator. Provided there is a manager qualified to 'oversee' the work, the actual day-to-day activity can be undertaken by unqualified staff.