Me and my partner are purchasing a 1 bedroom apartment in Gravesend with a mortgage. We have a Gravesend solicitor, but the mortgage company says he's not on their "panel". It appears that we have no option but to instruct one of the lender panel solicitors or keep our Gravesend solicitor and pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Gravesend conveyancing solicitor to apply to be on the conveyancing panel.
Can I use your services to recommend a Conveyancing solicitor in Gravesend even where I’m not purchasing or disposing of a house, for example if I want to buy a shop in Gravesend with a mortgage from The Mortgage Works?
Our search tool is mainly utilised to select residential conveyancing solicitors in Gravesend but we have set out at the end of this page some Gravesend commercial conveyancing firms. You will need to enquire with the firm directly to check if they are also authorised to represent The Mortgage Works
Can I be sure that the Gravesend conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Gravesend getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the solicitor carrying out your conveyancing.
We were going to get a DIP from Leeds Building Society this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Gravesend solicitors on the Leeds Building Society conveyancing panel, or is it better to go independently?
You will need to appoint Gravesend solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
Our sealed bid on a property in Gravesend has been agreed to, the sellers do nevertheless have a dependent purchase. The vendors have offered on a flat, however it’s not yet agreed to, and are looking at other apartments in the pipeline. I have chosen a nearby conveyancing solicitor in Gravesend. What do I do now? At what stage do I apply for the mortgage with UBS?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then survey, Gravesend conveyancing search fees, etc). The first course of action is to check that your lawyer is on the UBS approved list. Concerning the subsequent stages this very much dictated by the circumstances of your case, desire for this property and on the state of the market. In a rising market some purchasers would apply for the mortgage with UBS and arrange for the valuation and only if it was satisfactory would they request their conveyancer to proceed with searches.
How does conveyancing in Gravesend differ for new build properties?
Most buyers of new build property in Gravesend come to us having been asked by the seller to sign contracts and commit to the purchase even before the premises is built. This is because new home sellers in Gravesend typically purchase the real estate, 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 conveyancing solicitors 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 Gravesend or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Gravesend prior to retaining lawyers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some lenders will not give a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. Should you wish to telephone us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Gravesend. Conveyancing will be smoother if you use a solicitor in Gravesend especially if they are accustomed to such properties in Gravesend.
Expecting to complete next month on a basement flat in Gravesend. Conveyancing solicitors inform me that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Gravesend should include some of the following:
-
You should receive a copy of the lease Rent payments - what is payable and when is collected, and also know whether this is subject to change What you can do if another tenant in the building is in violation of a provision in their lease? Whether your lease has a provision for a reserve fund? Are pets allowed in the flat?
I bought a 2 bed flat in Gravesend, conveyancing having been completed in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Gravesend with an extended lease are worth £185,000. The ground rent is £65 levied per year. The lease expires on 21st October 2086
With 60 years left to run we estimate the price of your lease extension to range between £20,000 and £23,000 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.