I decided to go with a high street solicitor for our conveyancing in Folkestone last week. After carefully reading the Terms and Conditions I seeI am liable for costs even where the transaction does not complete. Would I be best advised to choose an internet conveyancing company who offer no-sale-no-fee conveyancing in Folkestone?
Generally there is a compromise along the lines that if "No Completion No Fee" is offered then the conveyancing charges will tend to be be uplifted to neutralise those cases that do not proceed. Please beware that such arrangements rarely cover disbursements such as Folkestone conveyancing search fees.
It is is a decade since I bought my property in Folkestone. Conveyancing lawyers have recently been instructed on the sale but I can't track down the title deeds. Will this jeopardise the sale?
You need not be too concerned. First the deeds may be retained by the mortgage company or they could be archived with the lawyers who handled the purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers procuring current official copies of the land registers. Almost all conveyancing in Folkestone involves registered property but in the rare situation where your home is not registered it adds to the complexity but is not insurmountable.
My bid for a property was accepted at auction in Folkestone. Conveyancing is needed. What happens now?
Having exchanged you will need to instruct a conveyancing practitioner as a matter of urgency as you now have a fast approaching deadline in which to complete the transaction. An auction property will have a corresponding auction pack. This should include evidence of title and search results. In the case of leasehold premises the auction pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You must pass this on to the solicitor instructed by you as soon as possible. Do make sure that your finances are in order to complete the transaction on the set completion date.
I have today made my last payment due on my mortgage with Nationwide. I assume I don't need a Folkestone solicitor on the Nationwide panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nationwide 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 Nationwide mortgage from the register. Nationwide, 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 Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
I am selling my house. I had a double glazing fitted in March 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Coventry BS are being pedantic. The Folkestone solicitor who is on the Coventry BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Coventry BS are requiring a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Folkestone is the location of the property. Can you shed any light on this issue?
Flying freeholds in Folkestone are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Folkestone you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Folkestone may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
How can the Landlord & Tenant Act 1954 impact my commercial premises in Folkestone and how can your lawyers assist?
The 1954 Act provides protection to business leaseholders, giving them the dueness to apply to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and handle your commercial conveyancing in Folkestone
I've recently bought a leasehold property in Folkestone. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a studio flat in Folkestone, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Folkestone with a long lease are worth £221,000. The ground rent is £50 per annum. The lease finishes on 21st October 2090
With 70 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.