We are hoping to buy a 2 bedroom flat in Rainham Kent with a mortgage. We wish to retain our Rainham Kent lawyer, however the lender advise he's not on their "panel". It appears that we have little option but to select one of the lender panel conveyancing practices or continue with our Rainham Kent solicitor as well as pay for one of their panel ones to represent them. This feels very unfair; are we not able to demand that the lender use our Rainham Kent conveyancing practitioner ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Rainham Kent conveyancing solicitor to apply to be on the conveyancing panel.
Can you explain why leasehold purchase conveyancing in Rainham Kent costs more?
In short, leasehold conveyancing in Rainham Kent and Kent usually requires extra due diligence compared to freehold transactions. This includes reviewing the lease, liaising with the landlord concerning serving required notices, obtaining up-to-date service charge and management information, obtaining the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
I am buying a new build flat in Rainham Kent. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Rainham Kent you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Rainham Kent.
Forgive me if this question is silly but I am new to the home buying as a 1st time purchaser of a ground floor flat in Rainham Kent. Do I collect the keys to the house on completion from my conveyancer? If this is the case, I will appoint a local conveyancing solicitor in Rainham Kent?
On the day of completion you will not be required to attend the conveyancers office in Rainham Kent. Your solicitors will arrange to send the purchase money to the seller's conveyancers, and once they have received this, you will be able to collect the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
Last month we had a mortgage agreed in principle with Leeds Building Society. Rainham Kent conveyancing practitioners have been chosen. What is the average time that one could expect to receive a mortgage offer from Leeds Building Society?
There is no definitive answer here. Have Leeds Building Society completed the valuation? Have you advised Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The mortgage over my property is with Aldermore for my property in Rainham Kent. Conveyancing has been completed a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Aldermore?
You must advise Aldermore prior to letting out your property as this is likely to be a breach of Aldermore’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. It should not be necessary to do this via a Aldermore conveyancing panel firm.
My husband and I are first time buyers - had an offer accepted, but the agent has warned us that the vendor will only issue a contract if we appoint their recommended solicitors as they need a ‘quick sale’. Our preferred option is to instruct a high street solicitor who is familiar with conveyancing in Rainham Kent
It is improbable the sellers are driving this. Should the seller desire ‘a quick sale', alienating a genuine buyer is not the way to achieve this. Try to communicate with the vendors directly and make the point that (a)you are genuine buyers (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you wish to move quickly (e)however you will continue to use your own,trusted Rainham Kent conveyancing firm - rather thanthe ones that will earn the estate agent a referral fee or meet his conveyancing targets set by head office.
Estate agents have just been given the go-ahead to market my garden apartment in Rainham Kent. Conveyancing is yet to be initiated, but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is pay the maintenance contribution as normal as all ground rent and maintenance charges should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am the registered owner of a 2 bed flat in Rainham Kent, conveyancing having been completed 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Rainham Kent with over 90 years remaining are worth £195,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2088
You have 63 years left to run we estimate the premium for your lease extension to span between £16,200 and £18,600 plus legals.
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. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.