I am purchasing a leasehold flat in Rochester. My Conveyancer is not on the lender conveyancing panel. Can I still continue with my Rochester conveyancing solicitor even though they are excluded from the mortgage company approved list?
You have a number of options available to you here
- Carry on with your chosen Rochester solicitor but your mortgage company will no doubt retain a conveyancing practitioner from their approved list. The net result is additional fees together with potential frustration.
- Choose a new conveyancer to conduct the conveyancing, ensuring that they are on the mortgage company conveyancing panel.
- Convince your lawyer to apply to join the bank panel
We are buying a flat and need a conveyancing solicitor in Rochester who is on the Skipton solicitor panel. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Skipton . We don't recommend any particular firms conducting conveyancing in Rochester.
What can a local search inform me regarding the property I am buying in Rochester?
Rochester conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search organisations such as Onsearch The local search plays an important part in most Rochester conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search will supply data 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 thirteen subject headings.
Me and my brother purchased a renovated Edwardian house in Rochester. Conveyancing solicitor acted for me and Virgin Money. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold with the exact same property. I'd like to know for sure, how can I find out??
You should 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Rochester and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing lawyer who completed the work.
I am buying a new build house in Rochester with a loan from Lloyds TSB Bank. The sellers would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The property agent told me not reveal to my conveyancer about this side-deal as it would jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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've found a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Rochester. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
Most houses in Rochester are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are buying in Rochester in which case you should be shopping around for a Rochester conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer should appraise you on the various issues.
I am the registered owner of a basement flat in Rochester, conveyancing formalities finalised 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Rochester with over 90 years remaining are worth £171,000. The ground rent is £50 yearly. The lease expires on 21st October 2104
You have 79 years unexpired we estimate the price of your lease extension to range between £7,600 and £8,800 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other 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 without first seeking the advice of a professional.