It is 10 years ago since I purchased my property in Kendal. Conveyancing lawyers have just been appointed on the sale but I can't find my title deeds. Is this a major issue?
You need not be too concerned. Firstly there is a chance that the deeds will be with the lender or they may be archived with the lawyers who acted in the purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring current official copies of the land registers. The vast majority of conveyancing in Kendal relates to registered property but in the rare situation where your home is not registered it is more tricky but is resolvable.
Forgive me if this question is silly but I am unseasoned as FTB of a two bedroom flat in Kendal. Do I receive the keys to the property on completion from my conveyancer? If so, I will appoint a High Street conveyancing solicitor in Kendal?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the seller's conveyancers, and shortly after the monies have arrived, you should be able to pick up the keys from the Estate Agents and start moving into the property. Usually this happens between 1 and 3pm.
When it comes to lenders such as Co-operative, do Kendal conveyancing practitioners have to pay an annual charge to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
We have agreed to purchase a house in Kendal. An unusual aspect is that the roof has a solar panel. Kent Reliance have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Kent Reliance your lawyer must comply with the formal instructions contained in Section two of UK Finance Lenders’ Handbook for Kent Reliance. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and solicitors are required to report to Kent Reliance where a lease does not meet these specifications. The conditions relate to the installation of panels on properties countrywide and is not isolated to Kendal.
I have been told that property searches are the main cause of obstruction in Kendal house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Kendal.
The deeds to my home can not be found. The solicitors who dealt with the conveyancing in Kendal 10 years ago have long since closed. What do I do?
These day there are duplicates made of almost everything, and your conveyancer should know exactly where to find all the relevant documentation so you can buy or dispose of your property without any difficulty. If copies can’t be located, your conveyancer may be able to arrange cover in the form of insurance or indemnities against possible claims on the premises.
In searching the internet for the term on line conveyancing in Kendal it reveals numerous conveyancersin the area. How do I determine which is the suitable conveyancer for my move?
The best way of finding a suitable conveyancer is via trusted referral, so ask colleagues and those you trust who have bought a property in Kendal or the reputable estate agent or financial adviser. Charges for conveyancing in Kendal differ, so it's sensible to request a minimum of three costs illustrations from varying types of solicitors. Be sure to secure confirmation that the costs are assured not to rise.
I have just started marketing my basement flat in Kendal. Conveyancing is yet to be initiated, however I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you pay the invoice as normal because all rents and maintenance charges will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I acquired a 1st floor flat in Kendal, conveyancing having been completed in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Kendal with a long lease are worth £197,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2079
With 55 years remaining on your lease we estimate the premium for your lease extension to be between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.