Is it realistic for conveyancing in Dartford to be concluded inside 28 days?
In the event that the seller is applying time constraints for your conveyancing it is advisable to make sure that your conveyancer is familiar with the location as they will have local connections and intelligence. It is possible that they may have handled otherhomes in the same road. You would be best advised to use a Dartford conveyancing firm. Second, be sure that the conveyancing firm is on the lender panel. It is said that just under twenty per cent of Dartford conveyancing deals are delayed or jeopardised after finding out that a buyer’s lawyer was not on their banks member panel. This can often result in the conveyancing being delayed by an average of three weeks. It is said that this issue impacts approximately 100,000 home sales annually. Many Dartford conveyancing firms can not represent certain lenders so do check as early as possible.
Are all Dartford Conveyancing Quality Solicitors on the Aldermore conveyancing panel?
Some major lenders now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
We were going to get a OIP from Yorkshire BS this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Dartford solicitors on the Yorkshire BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Dartford solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
I have paid off my mortgage with Virgin Money. I assume I don't need a Dartford property lawyer on the Virgin Money panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I am buying my first flat in Dartford with a mortgage from Aldermore. The builders refused to move on the price so I negotiated 6k of fixtures and fittings instead. The property agent told me not reveal to my solicitor about this deal as it could jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I am looking for a ground for flat up to £195,000 and found one round the corner in Dartford I like with a park and railway links in the vicinity, the downside is that it only has 49 years unexpired on the lease. There is not much else in Dartford in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan that many years will likely be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
I am tempted by the attractive purchase price for a two apartments in Dartford which have approximately 50 years unexpired on the leases. Do I need to be concerned?
There are no two ways about it. A leasehold apartment in Dartford is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of buyers and lenders, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Dartford conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the proprietor of a a ground floor purpose built flat in Dartford. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
You certainly can. We can put you in touch with a Dartford conveyancing firm who can help.
An example of a Lease Extension decision for a Dartford residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The remaining number of years on the lease was 76 years.
My fiance and I yesterday found out that one of the partners of the conveyancing practice handling the purchase conveyancing in Dartford is an aunty of the owners that we are buying from. Is this permitted?
On the basis that no conflict arises this is allowable. If you are needing a mortgage then the mortgage company may have a say as many banks have specific instructions on this. For example for RBS (One Account) as of 14/12/2024, the requirements read as follows :