It is is a decade since I acquired my property in Kingsnorth. Conveyancing solicitors have recently been instructed on the sale but I can't track down the deeds. Is this a problem?
You need not be too concerned. First there is a chance that the deeds will be retained by the lender or they may be in the possession of the conveyancers who oversaw your purchase. Secondly in most cases the property will be registered at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring up to date copy of the land registers. Almost all conveyancing in Kingsnorth relates to registered property but in the unlikely event that your property is unregistered it is more tricky but is resolvable.
My apartment in Kingsnorth is up for sale and I have a purchaser. Will the conveyancing practitioner need to be required to be on the Aldermore conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Aldermore 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 currently.
Do commercial conveyancing searches reveal impending roadworks that may affect a commercial estate in Kingsnorth?
Many commercial conveyancing solicitors in Kingsnorth will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Kingsnorth. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Kingsnorth.
For every commercial conveyancing transaction in Kingsnorth it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could cause delays to Kingsnorth commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Kingsnorth.
How does conveyancing in Kingsnorth differ for new build properties?
Most buyers of new build or newly converted property in Kingsnorth contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Kingsnorth tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Kingsnorth or who has acted in the same development.
Back In 2006, I bought a leasehold house in Kingsnorth. Conveyancing and Aldermore mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Kingsnorth who acted for me is not around. Do I pay?
First make enquiries of HMLR to make sure that this person is in fact the new freeholder. You do not need to instruct a Kingsnorth conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I bought a split level flat in Kingsnorth, conveyancing having been completed in 2003. Can you work out an approximate cost of a lease extension? Equivalent flats in Kingsnorth with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 levied per year. The lease runs out on 21st October 2080
With only 59 years unexpired we estimate the price of your lease extension to range between £20,900 and £24,200 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
Why can I not complete our conveyancing in Kingsnorth on a public holiday?
Because on completion the purchase price will pass between the banks of the purchaser and owner’s property lawyer and currently this can only occur on a working day. So you can't complete on a weekend either.