Why is leasehold purchase conveyancing in Chislehurst costs more?
Chislehurst leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Is it correct that all Chislehurst CQS (Conveyancing Quality Scheme) solicitors are on the Clydesdale conveyancing list of approved firms?
Some major banks and building societies now make use of the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
We had selected conveyancers locally in Chislehurst on the RBS solicitor panel. They have just invoiced me a supplemental charge for dealing with the RBS mortgage. Is this a supplemental conveyancing fee set by RBS?
Provided it is contained in their Terms and Conditions or estimate then yes your lawyer can charge a fee for this. The charge is not set by RBS but by your Chislehurst solicitor. Some firms on the RBS panel will charge ’dealing with mortgage’ fee but some firms include it on their overall fee.
Intending to buy a flat in Chislehurst. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Chislehurst conveyancing practitioner is on the Virgin Money conveyancing panel.
I moved into my apartment on 13 April and the transaction details is yet to be registered. Should I be concerned? My conveyancing solicitor in Chislehurst said it will be formalised in less than a month. Are titles in Chislehurst particularly slow to register?
As far as conveyancing in Chislehurst registration is no quicker or slower than anywhere else in the country. Rather than based on location, timescales can vary depending on the party submitting the application, whether there are errors and whether the Land registry need to notify any 3rd parties. At present approximately 80% of submission are fully dealt with within two weeks but occasionally there can be longer hold-ups. Registration occurs once the purchaser is living at the premises thus registration formalities is not always an essential issue yet if there is a degree of urgency associated with the registration then you or your conveyancer must contact the land registry and explain the circumstances.
How does conveyancing in Chislehurst differ for newly converted properties?
Most buyers of new build property in Chislehurst approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Chislehurst tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Chislehurst or who has acted in the same development.
I decided to have a survey done on a property in Chislehurst prior to instructing solicitors. I have been informed that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies may not grant a mortgage on this type of property.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. Should you wish to call 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 Chislehurst. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Chislehurst to see if the conveyancing will be more expensive.
I've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Chislehurst. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Chislehurst ?
Most houses in Chislehurst are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. We note that you are purchasing in Chislehurst so you should seriously consider looking for a Chislehurst conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your conveyancer should advise you fully on all the issues.
I have given up trying to purchase the freehold in Chislehurst. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Chislehurst conveyancing firm who can help.
An example of a Lease Extension case for a Chislehurst premises is 70 Andace Park Gardens 133-149 Widmore Road in November 2013. Tribunal determined that the premium payable for the lease extension was £10,052 This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 72 years.