My solicitor has informed me that chancel insurance is needed on my purchase. What is the level of cover for Sevenoaks conveyancing?
The appropriate level of chancel indemnity insurance should be dictated by who your lender. It would differ for example between Nationwide Building Society and Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such policies.
I have today made my last payment due on my mortgage with Barclays. I assume I don't need a Sevenoaks property lawyer on the Barclays panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Barclays mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Barclays mortgage from the register. Barclays, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
After weeks of negotiation I have agreed a price on a house in Sevenoaks. My mortgage broker suggested a solicitor. I paid an upfront payment of £175. A couple of days later, the solicitor contacted me sheepishly admitting that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Should my lawyer be making enquiries concerning flooding during the conveyancing in Sevenoaks.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Sevenoaks. There are those who purchase a property in Sevenoaks, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, but there are a number of checks that may be undertaken by the purchaser or by their conveyancers which can give them a better appreciation of the risks in Sevenoaks. The standard information given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a usual question of the seller to discover if the premises has suffered from flooding. If flooding has previously occurred and is not revealed by the owner, then a buyer could bring a legal claim for losses stemming from an misleading reply. The buyer’s lawyers should also order an environmental report. This will reveal whether there is any known flood risk. If so, additional investigations should be made.
Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Sevenoaks I like with open areas and transport links nearby, the downside is that it's only got 52 years on the lease. There is not much else in Sevenoaks suitable, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
I am looking to sell my property. My previous solicitors closed down. It would be helpful to have a recommendation of a conveyancing firm. Im based in Sevenoaks if that affects matters.
Do use our search tool to help you choose a solicitor for your conveyancing in Sevenoaks. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I am on look out for some leasehold conveyancing in Sevenoaks. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
If the lease is registered - and 99.9% are in Sevenoaks - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a leasehold flat in Sevenoaks, conveyancing was carried out in 2005. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Sevenoaks with a long lease are worth £201,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2091
With 65 years left to run we estimate the price of your lease extension to be between £13,300 and £15,400 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
My husband and I are planning to purchase a four room apartmentin Sevenoaks with a mortgage from a mortgage company. We wish to instruct our solicitor in Sevenoaks but our bank says he's not listed on their "panel". We have to appoint one of the our mortgage company panel solicitors or stay with our Sevenoaks solicitor and pay for one of their panel ones to represent our mortgage company. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The bank home loan issued is subject to its terms and conditions, one of which will be that solicitors will on the lender's conveyancing panel. in the past, most mortgage companies had large numbers of law firms on their panels, including many conveyancing solicitors in Sevenoaks : a mortgagee could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for your bank.