My husband and I are approaching an exchange on a property in Downe and my parents have transferred the ten percent deposit to my conveyancer. I am now informed that as the deposit has not arrived from me my solicitor needs to make a notification to my lender. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The lawyer is obliged to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
We see that you have a post code search directory listing law firms on the TSB conveyancing panel. Do companies pay you a referral fee if I appoint them for our conveyancing in Downe?
We are a listing service only for law firms wishing to communicate if they are on the TSB conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Downe.
My wife and I purchasing a victorian detached house in Downe. We would like to convert the garage to an office at the property.Will the conveyancing process involve checks to determine if these works are allowed?
Your solicitor should review the deeds as conveyancing in Downe can occasionally reveal restrictions in the title documents which prevent categories of works or need the consent of another owner. Certain extensions call for local authority planning permissions and approval under the building regulations. Certain locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
I currently have a mortgage with RBS for my property in Downe. Conveyancing was finalised some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform RBS?
RBS must be informed of your intention prior to renting your property as this is likely to be a breach of RBS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact RBS directly. You need not do this via a RBS conveyancing panel solicitor.
Kent Reliance have agreed my mortgage in principle, my offer on a apartment in Downe has been agreed to, now what?
Your property agent will want to know who your solicitors are (ensure that the conveyancing practitioners are on the lender’s panel). Contact Kent Reliance or your financial adviser and finalise any relevant paperwork. Kent Reliance will appoint a valuer who will get in touch with the selling agent or seller to schedule an appointment. Once carried out (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Kent Reliance will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Downe.
I am buying a new build apartment in Downe. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Downe
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. 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. Please supply a car parking plan. Please confirm the Lease plans are surveyor prepared.
Due to the input of my in-laws I had a survey completed on a property in Downe in advance of appointing lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor has said that some banks will refuse to grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Downe. Conveyancing may be slightly more expensive based on your lender's requirements.
I am a negotiator for a busy estate agency in Downe where we have witnessed a few flat sales put at risk due to short leases. I have been given contradictory information from local Downe conveyancing firms. Could you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start 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 to extend their lease. 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 purchaser.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Downe conveyancing firm to represent me?
Most definitely. We are happy to put you in touch with a Downe conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Downe residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case was in relation to 1 flat. The unexpired term was 50.57 years.