AssumingI were to buy a simple residential housein Ramsgate for cash and have no survey and no conveyancing searches how much should I expect to to save on my conveyancing in Ramsgate?
Any savings you would make will be isolated to the Ramsgate conveyancing searches. The solicitor is obliged to do the vast majority of work - money laundering, correspond with your sellers property lawyer, stamp duty return, register the title etc. You might save a bit for them not having to register a mortgage however it won't be significant.
My wife and I are purchasing a house in Ramsgate. It might be a silly question but how we can trust a conveyancer? At some point we have to put our life savings 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 being told by my solicitor that flying freehold insurance is required on my purchase. What is the level of cover for Ramsgate conveyancing?
The right level of flying freehold indemnity insurance should be dictated by who your lender. It would differ for example between HSBC Bank and Coventry Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
My offer was accepted on a property in Ramsgate on 5/6/2024, valuation was booked 3 days later, received a clean bill of health. Property lawyer retained, so the only thing outstanding was my mortgage offer. Having made daily calls to RBS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the RBS conveyancing panel. Can the lender hold off the offer?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I need some expedited conveyancing in Ramsgate as I am under an ultimatum to sign on the dotted line inside one month. A mortgage is not required. Can I escape the need for conveyancing searches to save money and time?
If.Given you are not taking a home loan you have the choice not to have searches conducted although no solicitor would advise that you don't. Drawing on years of experience of conveyancing in Ramsgate the following are instances of what can show up and adversely affect the marketability of the property: Enforcement Actions, Outstanding Charges, Overdue Grants, Road Schemes,...
I own a 4 bedroom Georgian property in Ramsgate. Conveyancing solicitor acted for me and Barnsley Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ramsgate and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing lawyer who carried out the work.
Completion is due on our sale of a £175,000 flat in Ramsgate on Friday in a week. The freeholder has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Ramsgate?
Ramsgate conveyancing on leasehold flats normally necessitates the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to assist. They are entitled to charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded should you wish to complete the sale of your home.
Ramsgate Leasehold Conveyancing - A selection of Questions you should consider before buying
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Does the lease include onerous restrictions? Please note that where the lease has fewer than eighty years it will impact the value of the flat. It is worth checking with your mortgage company that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will probably need a lease extension sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you will be be obliged to have owned the residence for a couple of years before you are legally able to extend the lease.
My step-son is embarking on her first house purchase, he had his mortgage in principle. After the offer was accepted on flat we telephoned the mortgage company to progress the mortgage application. We were shocked to hear that mortgage lenders do not accept all lawyer, they must be on their panel, is this right?
Banks normally imposes restrictions either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Ramsgate conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.