My wife and I are looking to purchase a house in Dartford and have instructed a Dartford conveyancing practice. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. National Westminster Bank have this evening contacted us to inform me that they have now hit a problem as our Dartford lawyer is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is conventional for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Dartford lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
I have been told that property searches are the primary cause of delay in Dartford house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of delay in conveyancing in Dartford.
4 months have gone by following my purchase conveyancing in Dartford took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Dartford differ for new build properties?
Most buyers of new build property in Dartford come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Dartford typically purchase the land, 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 accustomed to new build conveyancing in Dartford or who has acted in the same development.
I am using a search engine for the words cheap conveyancing in Dartford it reveals many solicitorsin the area. How do I determine which is the right property lawyer for purchase transaction?
The preferential method of finding a suitable conveyancer is via personal testimonial, so ask colleagues and those you trust who have acquired a property in Dartford or the respected estate agent or financial adviser. Charges for conveyancing in Dartford differ, so it's a good idea to secure at least four estimates from varying types of solicitors. Make sure that you clarify that the fees are fixed.
Can you offer any advice when it comes to finding a Dartford conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Dartford conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Dartford conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:
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Can they put you in touch with clients in Dartford who can give a testimonial? What volume of lease extensions has the firm conducted in Dartford in the last twenty four months?
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Dartford conveyancing firm to assist?
in cases where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the price payable.
An example of a Lease Extension decision for a Dartford flat 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 unexpired residue of the current lease was 76 years.