My partner and I are buying our first house. The conveyancer has e-mailedto see if we wish to order extra conveyancing searches. Frankly we have no idea as to what's recommended for conveyancing in Potton
The scope of Potton conveyancing searches should be triggered based entirely on the premises, the location, the possibility of any of these risks, your knowledge of the region and risks, your general attitude to risk. What matters is that you adequately appreciate what information the searches could give you. You may then make a decision if you personally think you need that search. If unclear, ask your property lawyer to advise.
We are due to move property in November. Does my conveyancing solicitor communicate with the removal company on the day of completion. As an aside, can you suggest a removal company in Potton. Conveyancing solicitor was chosen before I stumbled across your page.
On the day of completion you can pick up the keys from your property agent but this should only occur after the previous owners conveyancers inform the agent that they have the completion monies and the keys can be handed over. You can advise the removal company that they can start moving you in. We are not in a position to suggest a specific removal company but can help you locate a conveyancing in Potton or a firm that specialises in conveyancing in Potton.
We had chosen conveyancers located in Potton on the Kent Reliance solicitor approved list. They are now charging me a supplemental sum for dealing with the Kent Reliance mortgage. Is this a supplemental conveyancing fee specified by Kent Reliance?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your property lawyer can levy a fee for this. The fee is not dictated by Kent Reliance but by your Potton property lawyer. Some firms on the Kent Reliance panel will quote an ‘acting for lender’ fee and others do not.
Completion of my purchase has taken place for my property in Potton. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?
All banks and building societies 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 effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
How does conveyancing in Potton differ for new build properties?
Most buyers of new build residence in Potton contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Potton tend to buy the land, 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 Potton or who has acted in the same development.
I decided to have a survey done on a property in Potton prior to instructing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some banks tend not give a mortgage on a flying freehold property.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Potton. Conveyancing will be smoother if you use a solicitor in Potton especially if they are accustomed to such properties in Potton.
I have just started marketing my ground floor flat in Potton. Conveyancing solicitors are to be appointed soon, but I have just had a half-yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as usual because all ground rent and service charges will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I own a studio flat in Potton, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Potton with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease runs out on 21st October 2072
With just 52 years unexpired we estimate the price of your lease extension to be between £29,500 and £34,000 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure 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 considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
Our conveyancer in Potton has discovered a defect with the lease for the property we are buying in Potton. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer says that as he is on the bank conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the mortgage company approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.