I'm in the process of changing my existing standard home loan to a Buy to Let Bank of Ireland mortgage. I have been informed by my broker that I must appoint a lawyer for this. I had a chat my previous Canterbury conveyancing practitioner who acted on my behalf when I first acquired the house. The quote provided of £575 plus disbursements is surprising as its a remortgage than a sale or purchase.
The estimate does seem a tad overpriced. Where you are content to expend time scrutinising costs you might trim some of the expense by as much as £100 plus VAT. On the other hand, assuming were satisfied with the service the firm offered you maycome to regret opting for an a cheaper conveyancer. If is important to ensure that the solicitor can act for Bank of Ireland. You can make use of our search tool to select a Canterbury conveyancing firm on the Bank of Ireland conveyancing panel, which can often include conveyancing solicitors in Canterbury.
My husband and I are buying a brand new flat in Canterbury and my solicitor is informing me that she is duty bound to the mortgage company to disclose incentives from the seller. I am on a tight deadline to exchange and my preference is not to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Can I use your services to recommend a Conveyancing solicitor in Canterbury even where I’m not buying or selling a house, for instance where I wish to buy an office in Canterbury with a mortgage from Santander?
The service is primarily utilised to help choose residential conveyancing solicitors in Canterbury but we have listed at the end of this page some Canterbury commercial conveyancing firms. You should speak with the firm directly to establish if they can also act for Santander
Despite weeks of looking the Title Certificate and documents to my property can not be found. The lawyers who dealt with the conveyancing in Canterbury 5 years ago are no longer around. What are my next steps?
Assuming the title is registered the details of your ownership will be documented by the Land Registry under a Title Number. It is easy to execute a search at the Land Registry, identify your property and get up to date copies of the Registered Entries for less than a fiver. If the property is Leasehold then the Land Registry will usually hold a file duplicate of the Registered Lease and again, a copy can be ordered for a small fee.
I have been on the look out for a ground for flat up to £305k and found one round the corner in Canterbury I like with open areas and station in the vicinity, however it's only got 61 years on the lease. There is not much else in Canterbury suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage the shortness of the lease will be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
I am employed by a long established estate agency in Canterbury where we see a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Canterbury conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can instigate the lease extension process for the buyer?
Provided that the seller has been the owner 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. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.
I invested in buying a leasehold flat in Canterbury, conveyancing having been completed 3 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Canterbury with over 90 years remaining are worth £221,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2095
With just 70 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.