My husband and I are purchasing a brand new apartment in Tonbridge and my conveyancer is telling me that she has to the bank to disclose incentives from the developer. I am on a tight deadline to exchange and I would rather not delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
It is a dozen years since I bought my property in Tonbridge. Conveyancing solicitors have now been instructed on the sale but I can't locate my title documents. Is this a problem?
Don’t worry too much. First there is a chance that the deeds will be with the mortgage company or they could still be with the conveyancers who acted in the purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors obtaining up to date copy of the land registers. The vast majority of conveyancing in Tonbridge involves registered property but in the unlikely event that your property is not registered it is more of a problem but is resolvable.
Do the Building Society Association intend to launch a search tool with a view to list firms on the Darlington Building Society conveyancing panel for example in Tonbridge?
Lexsure has not been advised of any plans on the part of the BSA to promote such a register.
We are buying a property in Tonbridge. It might be a silly question but how we can trust a conveyancer? At some point we have to send funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
When it comes to mortgage companies such as Santander, do Tonbridge property lawyers face an annual charge to be on the list of approved solicitors?
We are unaware of any bank fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I have paid off my mortgage with RBS. I assume I don't need a Tonbridge lawyer on the RBS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your RBS 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 RBS mortgage from the register. RBS, 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 RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
I own a leasehold house in Tonbridge. Conveyancing and Santander mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Tonbridge who acted for me is not around. Do I pay?
First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Tonbridge conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a 2 bed flat in Tonbridge, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Tonbridge with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £65 yearly. The lease comes to an end on 21st October 2087
With 61 years left to run we estimate the premium for your lease extension to be between £19,000 and £22,000 as well as legals.
The suggested premium range that we have given is 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 the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
When it comes to my conveyancing in Tonbridge should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Tonbridge conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.