I have just been advised by my estate agent that my Tunbridge Wells solicitor is not on the lender Solicitor panel. What can I do to be certain that this is indeed the case?
Your first step should be to call your Tunbridge Wells conveyancer. You lawyer should advise you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
When can the exchange of contracts take place for purchase conveyancing in Tunbridge Wells and do I need to attend the solicitors branch?
Where you are in close proximity to our conveyancing solicitors in Tunbridge Wells you are invited in to sign documents. That being said, the law practices we recommend supply countrywide coverage for conveyancing and provide just as diligent and professional a job for you when communicating with you digitally. The executing of the purchase agreement is not the critical part. Signing on the dotted line simply enables the solicitor to exchange contracts when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Tunbridge Wells)to be in the office available at the end of the phone to exchange contracts.
When it comes to lenders such as Leeds Building Society, do Tunbridge Wells conveyancers have to pay a fee to be on the conveyancing panel?
We are unaware of any bank fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I have a mortgage with Skipton for my property in Tunbridge Wells. Conveyancing was finalised a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Skipton?
Your original mortgage agreement with Skipton will provide that you need their approval before letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. You need not do this via a Skipton conveyancing panel solicitor.
I've read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Tunbridge Wells solicitor - who is on the Yorkshire BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Tunbridge Wells postcode. As you are getting a mortgage with Yorkshire BS, you could contact them to see if they have a list of approved surveyors in Tunbridge Wells.
I am purchasing my first flat in Tunbridge Wells with a loan from Skipton Building Society. The sellers refused to move on the amount so I negotiated 6k of additionals instead. The property agent suggested that I not inform my lawyer about this deal as it will impact my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In what way does the Landlord & Tenant Act 1954 impact my business offices in Tunbridge Wells and how can you help?
The particular law that you refer to provides a safeguard to commercial tenants, giving them the a statutory right to apply to court for a continuation of occupancy when the lease comes to an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Tunbridge Wells is one of the numerous areas of the UK in which our lawyers have offices
I work for a long established estate agency in Tunbridge Wells where we have witnessed a few flat sales jeopardised due to short leases. I have been given contradictory information from local Tunbridge Wells conveyancing solicitors. Please can you clarify whether the vendor of a flat can instigate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I bought a leasehold flat in Tunbridge Wells, conveyancing having been completed in 2008. Can you work out an approximate cost of a lease extension? Corresponding flats in Tunbridge Wells with a long lease are worth £265,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease runs out on 21st October 2101
You have 76 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.