My wife and I are acquiring a brand new duplex in Kenley and my solicitor is telling me that she is duty bound to the bank to reveal incentives from the developer. I am on a tight deadline to sign contracts and I don't want to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
A friend informed me that in buying a property in Kenley there may be various restrictions preventing external changes to the property. Is this right?
We are aware of a number of properties in Kenley which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Kenley should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Completion of my purchase has taken place for my property in Kenley. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
At last I have had an offer on a flat in Kenley agreed to, but there is a chain. The sellers have offered on somewhere, however it’s not yet agreed to, and are looking at other properties in the pipeline. I have selected a nearby conveyancing solicitor in Kenley. What do I do now? At what stage should I apply for the mortgage with TSB?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx one thousand pounds, then survey, Kenley conveyancing search fees, etc). The first course of action is to ensure that your conveyancer is on the TSB approved list. Regarding the subsequent stages this very much depends on the circumstances of your transaction, motivation for this property and on the state of the market. During a hot market many purchasers would apply for the mortgage with TSB and pay for the valuation and only if it was satisfactory would they pay their property lawyer to press on with searches.
I am buying a new build flat in Kenley. Conveyancing is a frightening process 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 questions that you should expect your new-build leasehold conveyancing in Kenley
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Kenley I like with open areas and station in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Kenley suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the shortness of the lease will likely be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
Hoping to buy a property located in Kenley and I am already nervous. I couldn't find anything specific about Kenley. Conveyancing will be needed in due course but do you know about the Kenley area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Kenley. In the meantime here are some basic statistics that we found
Estate agents have just been given the go-ahead to market my 2 bed flat in Kenley. Conveyancing is yet to be initiated, but I have just received a quarterly service charge invoice – Do I pay up?
The sensible thing to do is clear the maintenance contribution as normal because all ground rent and maintenance payments 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 subsequent invoice 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. Having a clear account will assist your cause and will leave you no worse off financially.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Kenley conveyancing firm to help?
Most definitely. We can put you in touch with a Kenley conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Kenley flat is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case affected 6 flats. The remaining number of years on the lease was 78.32 years.