I am need of leasehold conveyancing for a flat in a relatively new development (five years built) in Rochester. 95% of the flats are already sold. Is it really necessary to order local searches for my conveyancing in Rochester?
You are putting yourself at risk in failing carrying out Rochester conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal necessity to have them, but we would strongly advise in the strongest possible terms that your solicitor conducts them. If timings and cost are top of your issues you should discuss with your conveyancer about the options such as contingency insurance available to you
What does a local search reveal about the property we're buying in Rochester?
Rochester conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations such as PSG The local search is essential in every Rochester conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search should supply information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
I purchased my apartment on 12 July and the transaction details is yet to be registered. Any reason for this? My conveyancing solicitor in Rochester advises it should be concluded in a couple of weeks. Are transfers in Rochester particularly slow to register?
There is nothing unique when it comes to conveyancing in Rochester registration formalities. Rather than based on location, timescales can differ subject to who lodges the application, whether it is in order and whether the Land registry communicate with any 3rd parties. Currently roughly three quarters of such applications are completed within two weeks but occasionally there can be extensive delays. Registration occurs after the new owner is living at the premises thus an expedited registration is not always an essential issue yet if it is urgent that the the registration takes place urgently then you or your lawyers should speak with the land registry and explain the circumstances.
I'm purchasing a new build house in Rochester with a mortgage from Platform Home Loans Ltd. The developers would not move on the price so I negotiated five thousand pounds worth of additionals instead. The sale representative suggested that I not to tell my lawyer about this side-deal as it will put at risk my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am 17 days into a residential purchase having been referred to solicitors by the estate agent to carry out the conveyancing in Rochester. I am am very dissatisfied with the quality of service. Could you you assist me in finding new lawyers?
A solicitor would have to be really poor in order to consider replacing them. Has your mortgage been sent? In the event that it has you will need to inform them of the replacement conveyancer and get the mortgage documents are re-sent. The solicitor ideally needs to be on the banks panel to avoid escalating expenses and delays. That should be your first question of the new lawyers. Our find a solicitor tool should assist you in finding a bank approved lawyer for your home move in Rochester
Can you provide any advice for leasehold conveyancing in Rochester with the intention of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Rochester can be avoided where you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors. You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is under 75 years. It is therefore important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unresolved. In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Rochester leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord approving such changes. If you dont have the approvals to hand you should not contact the landlord without checking with your conveyancer before hand.
I acquired a split level flat in Rochester, conveyancing formalities finalised in 2011. Can you work out an approximate cost of a lease extension? Comparable flats in Rochester with over 90 years remaining are worth £170,000. The ground rent is £50 yearly. The lease comes to an end on 21st October 2103
With 78 years unexpired we estimate the premium for your lease extension to range between £7,600 and £8,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed 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 taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.