Is the fact that my solicitor in Ashford is not identified on my bank's conveyancing panel that there is a problem with the standard of the firm’s work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Ashford conveyancing practice and enquire why they are no longer on the approved list for your bank.
We were just about to exchange contracts for a ground floor flat in Ashford. We have hit a stumbling block. Our loan offer with Bank of Scotland expires on 15/7/2025 but the sellers are suggesting a completion date of 17/7/2025. Can one extend the loan offer?
The person best placed to address this question is your lawyer who is in a position to calculate whether they should be discussing with the lender, vendor’s lawyers, estate agents or indeed all three given the history of your transaction to date.
Just had an offer accepted on a new build apartment in Ashford. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Ashford
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Over the last few months I have been searching for a flat up to £195,000 and found one near me in Ashford I like with amenity areas and station in the vicinity, however it only has 61 years unexpired on the lease. I can't really find anything else in Ashford in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the shortness of the lease may be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
Do you have any top tips for leasehold conveyancing in Ashford from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Ashford can be reduced if you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers. The majority of landlords or managing agents in Ashford levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Ashford. If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved. You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 75 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Ashford state that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord approving such works. Should you fail to have the paperwork to hand do not communicate with the landlord without contacting your solicitor first.
I have given up negotiating a lease extension in Ashford. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to assess the premium.
An example of a Lease Extension decision for a Ashford flat is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The remaining number of years on the lease was 82.93 years.
What type of conveyancing services do Ashford conveyancing organisations undertake?
In the main Ashford conveyancing firms manage to conduct a number of legal advice to residential and agricultural land owners, vendors, investors, freeholders and leaseholders assistingwith some of the following:
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Domestic sale conveyancing in Ashford or wider afield
Domestic purchase conveyancing in Ashford and further afield
Property conveyancing resulting from matrimonial or relationship splits Missing landlord applications by leaseholders to acquire their freehold Portfolio and off-shore remortgages Cohabitation Agreements