My financial adviser says he needs my Kimbolton lawyer’ panel reference for the Nat West conveyancing panel. How do I obtain this. I have called my local Kimbolton office but they don't know it.
You are best placed to get this information from your Kimbolton conveyancing practitioner . They maintain a central record lender panel numbers.
My home in Kimbolton is up for sale and I have a purchaser. Will my lawyer have to be required to be on the Bank of Ireland conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Bank of Ireland conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently at the moment.
I am the only recipient of my late grandmother’s will and I have everything in my name alone, including the my former home in Kimbolton. Conveyancing formalities meant that the Land Registry date was in December. I want to move. I understand that there is a Mortgage Lenders six month 'rule', meaning my proprietorship will be treated the same way as though I had purchased the property in December. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. How practical a view banks take of it, depend on the bank as this obligation is chiefly there to capture subsales or the quick reselling of property.
I have paid off my mortgage with RBS. I assume I don't need a Kimbolton solicitor on the RBS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your RBS 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 RBS mortgage from the register. RBS, 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 RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Kimbolton off the council. I have a mortgage agreed with TSB. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
Given that I will soon spend £400,000 on a property in Kimbolton I wish to talk to a conveyancer about myhouse move prior to appointing the firm. Can this be arranged?
We could not agree more - we would be delighted to talk to you we do not take any clients on without you speaking to the solicitor due to be carrying out your conveyancing in Kimbolton.There is no ‘factory style conveyancing’ - every client is unique individual, not a case number. The law firms that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Kimbolton should be the figure that you are charged.
I work for a long established estate agent office in Kimbolton where we have experienced a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Kimbolton conveyancing firms. Could you shed some light as to whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a split level flat in Kimbolton, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Kimbolton with a long lease are worth £260,000. The ground rent is £45 invoiced every year. The lease ceases on 21st October 2096
With only 74 years remaining on your lease we estimate the price of your lease extension to range between £8,600 and £9,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
Builders have put forward a lawyer and I've received an estimate from them. They are almost £400 less expensive than my own Kimbolton property lawyer. Should I use them?
Housebuilders often have lists of conveyancing practitioners who are quick and who know the builder's paperwork and solicitor. As many developers offer an incentive to use their approved lawyer for this reason, any increased cost can be avoided and a developer won't suggest a conveyancing factory and run the risk of having the transaction delayed when they need an exchange within a tight time frame. A counter-argument for not agreeing to use the suggested property lawyer is that they may be unwilling to fight for your interests at the risk of upsetting the housebuilder. If you worry that this may be the situation you should stick with your high street Kimbolton property lawyer.