My husband and I are purchasing a 3 bedroom flat in Kidbrooke with a mortgage. We like our Kidbrooke lawyer, however the lender advise she’s not on their "panel". It appears that we have no choice but to instruct one of the lender panel firms or continue with our Kidbrooke solicitor as well as pay for one of their panel ones to act for them. We regard this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Kidbrooke conveyancing solicitor to apply to be on the conveyancing panel.
My solicitor has informed me that missing deeds insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Kidbrooke?
The appropriate level of missing deeds indemnity insurance should be dictated by who your lender. It would differ for example between Santander and Skipton Building Society. Conveyancing practitioners as opposed to members of the public take out such insurances.
We were going to get a DIP from Clydesdale this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Clydesdale recommend any Kidbrooke solicitors on the Clydesdale conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Kidbrooke solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
I have paid off my mortgage with Kent Reliance. I assume I don't need a Kidbrooke lawyer on the Kent Reliance panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Kent Reliance 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 Kent Reliance mortgage from the register. Kent Reliance, 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 Kent Reliance has sent the Land Registry the discharge electronically, and
- Kent Reliance has instructed the Land Registry to do so
It has been three months following my purchase conveyancing in Kidbrooke took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Kidbrooke. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Kidbrooke
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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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. 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.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one close by in Kidbrooke I like with open areas and station nearby, however it only has 52 years on the lease. There is not much else in Kidbrooke in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
I am on look out for some leasehold conveyancing in Kidbrooke. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is registered - and almost all are in Kidbrooke - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Kidbrooke conveyancing firm to represent me?
Where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to determine the sum to be paid.
An example of a Freehold Enfranchisement decision for a Kidbrooke flat is 18 Handen Road in April 2013. On 26 October 2012 District Judge Zimmels sitting at the Lambeth County Court made a Vesting Order that the Applicants be granted the right to acquire the freehold upon such terms and at such price determined by the LVT. The Tribunal arrived a figure of £39,535 as a valuation for the enfranchisement. This case related to 3 flats. The remaining number of years on the lease was 69.05 years.