Unfortunately I am unable to travel far from Canterbury. What is the rationale as to why all Canterbury property lawyers are not on all lender panels?
Even though it may seem unfair for mortgage companies to restrict who can act for them, from the public’s or lawyer’s point of view, the other side of the coin is that mortgage companies are increasingly anxious and feel it vital to protect them from mortgage fraud. As a result of this concern mortgage companies have reduced their conveyancing panel to a size that they are happy to control.
My bid for a property was accepted at auction in Canterbury. Conveyancing is required. What happens now?
Now that you are legally committed yourself to purchase you should retain a conveyancing solicitor as a matter of priority as you will have a fast approaching a fixed date to complete the conveyancing. All auction property will have a corresponding legal pack. This will likely include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the auction pack should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You need to give this to the solicitor instructed by you as soon as possible. You also need to ensure that your finances are in place to complete the transaction on the set completion date.
We previously instructed conveyancers located in Canterbury on the Nationwide solicitor approved list. They have just billed me a separate amount for handling the Nationwide mortgage. Is this an additional conveyancing fee set by Nationwide?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your property lawyer can charge a fee for this. This charge is not dictated by Nationwide but by your Canterbury conveyancing practitioner. Plenty of firms on the Nationwide panel will charge ’dealing with mortgage’ fee and others do not.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Canterbury solicitor - who is on the UBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS 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 solicitor 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 Canterbury postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Canterbury.
I have todaybecome aware that Arc property Solicitors have closed. They conducted my conveyancing in Canterbury for a purchase of a leasehold apartment 18 months ago. How can I be sure that my home is in my name in the name of the previous owner?
The quickest way to see if the property is in your name, you can carry out 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 Canterbury conveyancing specialists.
How does conveyancing in Canterbury differ for newly converted properties?
Most buyers of new build residence in Canterbury come to us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in Canterbury tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Canterbury or who has acted in the same development.
I am using a search engine for the words cheap conveyancing in Canterbury it reveals numerous property lawyersin the area. With so much choice what is the best way to find the right conveyancer for the sale of my house?
The best method of seeking a suitable conveyancer is through a trusted testimonial, so enquire of colleagues and those you trust who have bought a property in Canterbury or the local estate agent or mortgage broker. Costs for conveyancing in Canterbury differ, so it's sensible to request at least four costs illustrations from varying types of companies. Be sure to secure confirmation that the charges are guaranteed not to increase.
I am hoping to exchange soon on a studio apartment in Canterbury. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Canterbury should include some of the following:
-
Are you allowed to have a pet in the flat? Does the lease prevent you from subletting the property, or having a home office for business Your conveyancers should enable you to have an understanding of the insurance provisions Responsibility to repair and maintain the building. It is important that you know who is duty bound to repair and maintenance of all parts of the block and communal areas An explanation concerning the obligations in the lease to pay service charges - in relation to the building, and the more general rights a lessee has
I acquired a studio flat in Canterbury, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Comparable properties in Canterbury with a long lease are worth £175,000. The ground rent is £65 levied per year. The lease ends on 21st October 2083
With 58 years remaining on your lease the likely cost is going to be between £23,800 and £27,400 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.