My wife and I are purchasing a newly constructed duplex in St Mary Cray and my lawyer is advising me that she has to the mortgage company to disclose incentives from the developer. I am nearing the developer’s deadline to sign contracts and my preference is not to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I can see plenty of information on this site about conveyancing in St Mary Cray but can you isolate your top tip for choosing the right conveyancer in St Mary Cray
Do not opt for the cheapest St Mary Cray conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
What is the difference between a licensed conveyancer and conveyancing solicitor in St Mary Cray
There are two types of lawyers who can execute conveyancing in St Mary Cray namely CLC regulated conveyancers or solicitors. The two can administer conveyancing services that required to complete the disposal or purchase of property. Both are obliged to carry out St Mary Cray conveyancing on similar quality and guidelines so you can be safe in the knowledge that your conveyancing will be properly carried out and that all requirements and procedures should be accurately attended to.
After much negotiation I have agreed a price on a house in St Mary Cray. My financial adviser suggested a lawyer. I paid an advanced payment of £200. A couple of days later, the conveyancing practitioner contacted me sheepishly admitting that they were not on the Clydesdale 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 Clydesdale 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.
How does conveyancing in St Mary Cray differ for new build properties?
Most buyers of new build residence in St Mary Cray approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is finished. This is because developers in St Mary Cray tend to buy 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 St Mary Cray or who has acted in the same development.
My husband and I are new on the property ladder - agreed a price, yet the selling agent advised that the seller will only move forward if we instruct their chosen lawyers as they need a ‘quick sale’. My instinct tells me that we should use a family solicitor who is accustomed to conveyancing in St Mary Cray
We suspect that the seller is not behind this ultimatum. If they desire ‘a quick sale', alienating a genuine purchaser is is going to put the whole deal at risk. Try to communicate with the vendors directly and make the point that (a)you are genuine purchasers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you intend to instruct your preferred St Mary Cray conveyancing solicitors - not the ones that will provide the estate agent a kickback or hit his conveyancing thresholds pre-set by corporate headquarters.
Estate agents have just been given the go-ahead to market my basement apartment in St Mary Cray. Conveyancing is yet to be initiated, but I have recently had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you discharge the maintenance contribution as normal as all ground rent and service payments should be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until 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 own a ground flat in St Mary Cray. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
in cases where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to determine the amount due.
An example of a Lease Extension matter before the tribunal for a St Mary Cray property is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The remaining number of years on the lease was 50.57 years.
I've found a house that appears to be perfect, at a great figure which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in St Mary Cray. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
Most houses in St Mary Cray are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in St Mary Cray so you should seriously consider shopping around for a St Mary Cray conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer should appraise you on the various issues.