Is it realistic for conveyancing in Margate to be done within 10 days?
In the event that the seller is applying a tight deadline to exchange we would recommend that your lawyer is familiar with the area as they will make use of local connections and knowledge. It is even conceivable that they could have conducted otherhouses in the same neighbourhood. You would be best advised to use a Margate conveyancing lawyer. In addition, be sure that the lawyer is on the on the approved list for your mortgage company. It is believed that 18% of Margate conveyancing deals are frustrated or jeopardised after finding out that a purchaser’s conveyancer was not on their banks member panel. This can often result in the transaction being delayed by as much as three weeks. It is claimed that this issue impacts approximately 100,000 home moves annually. Almost all Margate conveyancing practices can not act for certain lenders so do check at the outset.
We are planning to purchase with Loughborough BS. We have called around locally but cant to find a Margate conveyancing firm on the Loughborough BS approved list. Can you help?
Feel free to make use of the find a lender approved solicitor tool on this site. Pick the lender and type Margate or your preferred area and you will be presented with numerous conveyancers offices in Margate or by proximity to you.
I am buying a new build house in Margate with the aid of help to buy. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not inform my lawyer about the extras as it may jeopardize my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the advice of my in-laws I had a survey completed on a property in Margate in advance of instructing conveyancers. I have been told that there is a flying freehold element to the property. My surveyor advised that some mortgage companies may not give a loan on this type of home.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Margate. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Margate to see if the conveyancing costs will increase in light of this.
I own a leasehold flat in Margate. Conveyancing and Birmingham Midshires mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Margate who previously acted has long since retired. Any advice?
First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Margate conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I own a 2 bed flat in Margate, conveyancing was carried out April 2002. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Margate with an extended lease are worth £195,000. The ground rent is £45 yearly. The lease finishes on 21st October 2088
You have 63 years unexpired we estimate the premium for your lease extension to span between £16,200 and £18,600 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. 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 want to 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.
My lawyers in Margate have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the lender. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the lender directly.