I am hoping to complete my purchase in Rainham Kent next Monday. My property lawyer now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What does the insurance need to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These requirements are not limited to conveyancing in Rainham Kent.
Do banks and building societies provide you with an approved list of Rainham Kent conveyancing solicitors? How do you know who is on the Bank of Ireland conveyancing panel?
Rainham Kent conveyancing firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
I am considering applying for a Kent Reliance mortgage for purchase of a newly converted (under development) in Rainham Kent with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Kent Reliance ?
There is nothing to stop you using your solicitor, but Kent Reliance will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I am due to move house in October. Will my conveyancing solicitor update the removal company on the day of completion. Incidentally, can you suggest a removal company in Rainham Kent. Conveyancing solicitor was chosen prior to coming across your site.
On the day of completion you will need to collect the keys from the selling agent but this should only occur when the sellers solicitors confirm to the agent that they have the completion monies and the keys can be passed over. Subsequently you can tell the removal men that they can start moving you in. As a matter of policy we do not suggest a specific removal company but can assist you in locating a conveyancing in Rainham Kent or a solicitor that specialises in conveyancing in Rainham Kent.
We have agreed to purchase a house in Rainham Kent. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Aldermore be concerned?
As your lender is Aldermore your lawyer must comply with the conveyancing instructions outlined in Part two of UK Finance Lenders’ Handbook for Aldermore. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and lawyers are required to report to Aldermore where a lease fails to satisfy these conditions. The provisions relate to the installation of panels on properties countrywide and is not limited to Rainham Kent.
After what seems like an age I have had an offer on a maisonette in Rainham Kent agreed to, but there is a chain. The vendors have put an offer on a property, but it’s not yet agreed to, and have viewings of other properties booked. I have selected a nearby conveyancing solicitor in Rainham Kent. What do I do now? At what point do I apply for the mortgage with Nationwide?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then valuation, Rainham Kent conveyancing search costs, etc). The first thing to do is ensure that your property lawyer is on the Nationwide conveyancing panel. Regarding the subsequent stages this very much dictated by the circumstances of your transaction, motivation for the property and on the state of the market. In a buoyant market many home buyers will apply for the mortgage with Nationwide and pay for the valuation and only if it comes back ok would they pay their conveyancing practitioner to press on with searches.
About to purchase a new build flat in Rainham Kent. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Rainham Kent
-
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Due to sign contracts shortly on a basement flat in Rainham Kent. Conveyancing lawyers have said that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Rainham Kent should include some of the following:
-
Rent payments - what is payable and when you need to pay, and be on notice if this will change in the future It needs to be made clear to you if the lease allows you to alter or upgrade anything in the property- you should know whether any restrictions applies to all alterations or just structural alteration, and whether consent is required Repair and maintenance of the flat Defining your legal entitlements in relation to common areas in the block.By way of example, does the lease provide for a right of way over a path or hallways? if lease caters for for a slush fund?
I purchased a 1st floor flat in Rainham Kent, conveyancing was carried out December 2007. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Rainham Kent with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2095
With 70 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.