Can I use your services to find a Conveyancing solicitor in Sevenoaks even where I’m not buying or disposing of a house, for example where I wish to acquire an office in Sevenoaks with a mortgage from Barclays ?
Our comparison service is mainly used to select residential conveyancing solicitors in Sevenoaks but we have set out at the end of this page a selection of Sevenoaks commercial conveyancing firms. You will need to speak with the company directly to establish if they are also authorised to represent Barclays
We wanted to use a conveyancing solicitor in Sevenoaks for our house move. Our financial adviser informed us that our mortgage lenders Nationwide Building Society won't deal with them. Surely this is unfair competition?
Mortgage Companies in the main imposes restrictions either the type or the amount of conveyancing firms on their member panel. A common example of such criteria being that a law practice must not be a sole practitioner. As well as restricting the type of firm, a few banks have decided to limit the amount of firms they use to represent them. Be aware that Nationwide Building Society have no responsibility for the quality of advice provided by any member of Nationwide Building Society Conveyancer Panel. Mortgage fraud was a key driver in the reduction of solicitor panels a few years ago even though there are mixed views about the extent of solicitor involvement in some of that fraud. Data from the Land Registry reveal that thousands of law firms, including some in or near Sevenoaks only conduct one or two conveyances a year.
How does conveyancing in Sevenoaks differ for new build properties?
Most buyers of new build premises in Sevenoaks contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Sevenoaks 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 conveyancing solicitors 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 Sevenoaks or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Sevenoaks is where the house is located. What do you suggest?
Flying freeholds in Sevenoaks are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sevenoaks you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sevenoaks may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Hoping to buy a property located in Sevenoaks and I am already nervous. I couldn't find anything specific about Sevenoaks. Conveyancing will be needed in due course but do you know about the Sevenoaks area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Sevenoaks. In the meantime here are some basic statistics that we found
I am tempted by the attractive purchase price for a couple of flats in Sevenoaks both have about forty five years remaining on the leases. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Sevenoaks is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of purchasers and lenders, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Sevenoaks conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Sevenoaks Conveyancing for Leasehold Flats - A selection of Questions you should ask before Purchasing
-
How much is the yearly maintenance fee and ground rent? The answer will be important as a) areas can result in problems for the block as the communal areas may begin to deteriorate where maintenance remain unpaid b) if the tenants have an issue with the running of the building you will wish to have complete disclosure What prohibitions exist in the Sevenoaks Lease?