The Tonbridge conveyancing firm handling our Tonbridge conveyancing has identified an inconsistency between the surveyor’s assumptions in the home valuation report and what is in the legal papers for the property. My lawyer says that he is obliged to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Is there a reason why leasehold purchase conveyancing in Tonbridge costs more?
Tonbridge leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I have justbecome aware that Wolstenholmes have been shut down. They carried out my conveyancing in Tonbridge for a purchase of a leasehold flat 9 months ago. How can I check that my home is not still registered in the name of the previous owner?
The quickest method to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Tonbridge conveyancing specialists.
I opted to have a survey done on a house in Tonbridge in advance of appointing solicitors. I have been informed that there is a flying freehold element to the house. The surveyor has said that some banks tend not grant a loan on such a premises.
It varies from the lender to lender. HSBC has different instructions for example to Nationwide. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Tonbridge. Conveyancing will be smoother if you use a solicitor in Tonbridge especially if they regularly deal with such properties in Tonbridge.
Are there frequently found deficiencies that you encounter in leases for Tonbridge properties?
Leasehold conveyancing in Tonbridge is not unique. All leases are drafted differently and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
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Service charge per centages that don't add up correctly leaving a shortfall
You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Bank of Scotland, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.
I am the registered owner of a ground floor flat in Tonbridge, conveyancing was carried out 7 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Tonbridge with a long lease are worth £180,000. The ground rent is £65 charged once a year. The lease comes to an end on 21st October 2082
With just 58 years unexpired the likely cost is going to be between £22,800 and £26,400 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
My estate agent has recommended their conveyancing practitioner for my conveyancing in Tonbridge - Is it not simpler easier to just use them?
It is worth checking if the selling agent is recommending a solicitor or introducing to a property lawyer. There are plenty of Tonbridge estate agents who recommend two or three Tonbridge conveyancing firms purely based on those lawyers offering a great service.