I have given 2 months notice to my existing landlord and have to be out of my let out flat in Margate by the end of next month. Conveyancing on my purchase is underway. How realistic is it to complete in 5 weeks as I wish to avoid having to move into temporary accommodation?
The normal practice is not to provide notice for your tenancy until exchange of contracts has taken place. If you have not already done so, speak to your conveyancer and ask them to they seek the assistance the other lawyers, try to get a realistic time scale from them that all parties will work towards
We wanted to use a property lawyer in Margate for our home move. Our broker informed us that our mortgage company Lloyds TSB Bank won't deal with them. Surely this is unduly restrictive?
A decade ago most mortgage companies had an appetite for risk which was higher than today. Almost all Margate conveyancing firms would have been on most bank panels. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more data from law firms concerning their operations and their employees as well as set certain criteria such a completing on a minimum volume of conveyancing. Many Margate conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Margate is amongst the numerous locations where the lawyers we list are are authorised to act for Lloyds TSB Bank.
We are buying a flat in Margate. I might seem paranoid but how we can trust a conveyancer? At some point we have to deposit funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am assisting my niece sell her flat in Margate. Does the conveyancer order the energy performance certificate or do I organise this?
After the abolition of Home Packs, energy assessments was left as a required part of selling a property. An energy performance certificate must be commissioned in advance of the property being put on the market. This is not something that conveyancers normally organise. Where you are using a Margate conveyancing lawyer they might be willing to arrange energy performance certificates given their contacts with long established Margate energy assessors
Completion of my remortgage has taken place for my property in Margate. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
My partner and I are selling our property in Margate and according to the buyers it appears that there is a risk of it being built on contaminated land. A high street Margate conveyancer would know this is not the case. For the life of me I don't know why the purchasers used a national conveyancing firm as opposed to a conveyancing solicitor in Margate. We have lived in Margate for 4 years we know of no issue. Do we get in touch with our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I decided to have a survey completed on a property in Margate ahead of appointing lawyers. I have been told that there is a flying freehold element to the property. The surveyor advised that some lenders may not give a loan on this type of premises.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. If you call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Margate. Conveyancing will be smoother if you use a solicitor in Margate especially if they are acquainted with such properties in Margate.
I've recently bought a leasehold house in Margate. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a split level flat in Margate, conveyancing was carried out May 1997. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Margate with an extended lease are worth £185,000. The ground rent is £65 per annum. The lease finishes on 21st October 2085
You have 60 years remaining on your lease we estimate the price of your lease extension to range between £20,000 and £23,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.