Me and my fiance are acquiring an apartment in Romney. My Solicitor is not on the mortgage company approved list. Am I still permitted to continue with my Romney conveyancing solicitor even though they are not on the bank panel?
One must instruct a solicitor to complete the legal work required if you need a loan to purchase your home. They will conduct all the relevant investigations on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage paperwork is dealt with. One can select a Romney lawyer of your choosing. Nevertheless, where the property lawyer appointed is not a member of the mortgage company approved list additional fees will arise as separate legal representation will be need by the lender. Bank panel applications may be submitted, so where your solicitor has not previously applied for membership they should take the opportunity to apply.
Do the conveyancing lawyers identified via your search tool conduct auction conveyancing in Romney?
There are a number of auction practitioners we can connect you with those conducting auction conveyancing. Romney is one of our locations where our lawyers cover.
Will conveyancers ask for money on account when it comes to conveyancing in Romney?
Where you are retaining lawyers for conveyancing in Romney your lawyer will ask you place them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. When the down payment is as part of the total price then this should be needed shortly in advance of exchange of contracts. The closing balance that is needed should be sent to your lawyer shortly before completion.
We are selling our house in Romney. Does the lawyer have to be required to be on the Coventry BS conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently at the moment.
How does conveyancing in Romney differ for newly converted properties?
Most buyers of new build or newly converted property in Romney contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because house builders in Romney tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Romney or who has acted in the same development.
I have just appointed agents to market my 2 bed apartment in Romney. Conveyancing solicitors are to be appointed soon, but I have just received a quarterly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as normal as all ground rent and service invoices should be allotted on completion, 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 unless 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. This will smooth the conveyancing process.
I acquired a garden flat in Romney, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Romney with over 90 years remaining are worth £176,000. The ground rent is £50 per annum. The lease comes to an end on 21st October 2105
With only 80 years remaining on your lease the likely cost is going to be between £8,600 and £9,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.