I am mortgaging my flat in Downton, does my lawyer have to be on the Kent Reliance Solicitor panel?
There is nothing to stop you using your solicitor, but Kent Reliance will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Forgive me if this question is silly but I am new to the process as a first time buyer of a two bedroom flat in Downton. Do I collect the keys to the house on completion from my conveyancer? If this is the case, I will find a High Street conveyancing solicitor in Downton?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the purchase money to the owner’s conveyancers, and once they have received this, you will be invited to receive the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
My partner and I have organised the release of further monies on our mortgage from Co-operative as we want to carry out a loft conversion to our home in Downton. Do we need to select a bricks and mortar Downton solicitor on the Co-operative conveyancing panel to deal with the paperwork?
Co-operative would not normally instruct a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative list.
The formalities of my purchase has taken place for my property in Downton. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I am purchasing a new build house in Downton with a mortgage from Birmingham Midshires. The sellers would not budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent suggested that I not disclose to my lawyer about the extras as it could jeopardize my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Downton is where the house is located. Can you shed any light on this issue?
Flying freeholds in Downton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Downton you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Downton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Last December I purchased a leasehold property in Downton. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Downton Leasehold Conveyancing - A selection of Queries Prior to Purchasing
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Are there any major works on the horizon that could add a premium to the maintenance costs? It is important to be aware whether window replacement or some other major work is due in the foreseeable future to be shared between the leaseholders and will materially increase the the service fees or necessitate a one off invoice. How long is the Lease?
The conveyancers handling our conveyancing in Downton has sent papers to review that indicate that the property is unregistered with epitome documents. Why is the property not currently recorded at HMLR?
Although most properties in Downton are now registered with HMLR there are still a few that are unregistered. Any property in Downton that has been remortgaged since the late 1980’s will have been registered at the HMLR under the compulsory ‘first registration’ scheme. However, if a Downton property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Plenty of Downton conveyancing practitioners will be capable of dealing with this type of conveyancing but where uncertainty prevails the prevailing guidance these days is for the seller to undertake the registration formalities first and then sell - this will have a knock on effect to cause a significant delay.