My son is in the process of securing a new build apartment in Thornton with a home loan from Kent Reliance. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Kent Reliance conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Kent Reliance conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
It is a dozen years since I bought my property in Thornton. Conveyancing solicitors have just been appointed on the sale but I am unable to track down my title documents. Will this jeopardise the sale?
You need not be too concerned. Firstly the deeds may be retained by your lender or they may be in the possession of the lawyers who oversaw the purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. Most conveyancing in Thornton relates to registered property but in the rare situation where your home is not registered it adds to the complexity but is not insurmountable.
Is it correct that all Thornton CQS (Conveyancing Quality Scheme) solicitors are on the Nationwide conveyancing list of approved firms?
A selection of banks and building societies now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
Is it the case that all Thornton solicitor practices on the UBS conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the UBS approved list of solicitors they would need to be governed by the SRA. The majority of mortgage companies do allow licenced conveyancers on their panel and in that case the firms would be regulated by the Council of Licensed Conveyancers.
We previously instructed conveyancing lawyers based in Thornton on the Aldermore solicitor approved list. They are now charging me a separate charge for handling the Aldermore mortgage. Is this a supplemental conveyancing fee set by Aldermore?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer can charge a fee for this. This fee is not set by Aldermore but by your Thornton lawyer. Plenty of firms on the Aldermore panel will levy an ‘acting for lender’ fee and others do not.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a simple, no chain conveyancing. Thornton is where the house is located. What do you suggest?
Flying freeholds in Thornton are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Thornton you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Thornton may decide 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 property.
We're FTB’s - agreed a price, yet the property agent informed us that the vendor will only move forward if we use their recommended solicitors as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a family conveyancer with experience of conveyancing in Thornton
We suspect that the seller is not behind this demand. Should the owner want ‘a quick sale', turning down a serious purchaser is going to damage their objectives. Contact the sellers directly and explain that (a)you are serious buyers (b)you are excited to move forward, with finances in place © you are unencumbered (d) you intend to proceed fast (e)but you are going to use your own,trusted Thornton conveyancing solicitors - rather thanthose that will earn their estate agent a commission or achieve conveyancing targets set by corporate headquarters.
Harry (my fiance) and I may need to sub-let our Thornton ground floor flat for a while due to a new job. We instructed a Thornton conveyancing firm in 2002 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
Some leases for properties in Thornton do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I am the registered owner of a leasehold flat in Thornton, conveyancing was carried out in 2007. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Thornton with an extended lease are worth £165,000. The ground rent is £50 invoiced annually. The lease expires on 21st October 2103
With just 77 years left to run we estimate the price of your lease extension to be between £7,600 and £8,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.