My wife and I are looking to buy a property in Kemp Town and have appointed a Kemp Town conveyancing practice. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Clydesdale have this evening contacted us to inform me that there is now an issue as our Kemp Town lawyer is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Kemp Town solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Kemp Town?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Kemp Town. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
About to purchase a new build flat in Kemp Town. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Kemp Town
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are surveyor prepared. 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.
I am looking into buying my first house which is in Kemp Town and I am already nervous. I couldn't find anything specific about Kemp Town. Conveyancing will be needed in due course but do you know about the Kemp Town area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Kemp Town. In the meantime here are some basic statistics that we found
There are only 68 years unexpired on my flat in Kemp Town. I am keen to extend my lease but my freeholder is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you have made all reasonable attempts to track down the freeholder. On the whole a specialist should be helpful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court covering Kemp Town.
I own a split level flat in Kemp Town, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Kemp Town with a long lease are worth £260,000. The average or mid-range amount of ground rent is £50 yearly. The lease runs out on 21st October 2100
With only 75 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
I have finally had an offer on an apartment in Kemp Town accepted, but there is a chain. The current proprietors have offered on somewhere, however it’s not yet agreed to, and has viewings of other flats in the pipeline. I have selected a nearby conveyancing lawyer in Kemp Town. What do I do now? When do I get the mortgage application with Santander started with Santander?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx £1k, then valuation, Kemp Town conveyancing search fees, etc). First, you should check that your conveyancing practitioner is on the Santander approved list. Concerning the subsequent phase this very much dictated by the specifics of your transaction, desire for this property and on the state of the market. In a hot market the majority of buyers would apply for the mortgage with Santander and pay for the valuation and only if it was satisfactory would they ask their lawyer to proceed with searches.