It is a dozen years since I bought my property in Herne Bay. Conveyancing lawyers have now been appointed on the sale but I am unable to locate my title deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly there is a chance that the deeds will be retained by your mortgage company or they could be archived with the lawyers who handled your purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining current official copies of the land registers. Nearly all conveyancing in Herne Bay relates to registered property but in the unlikely event that your home is not registered it is more of a problem but is not insurmountable.
How do I check that the solicitor conducting my conveyancing in Herne Bay is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Aldermore thus paying £187.00 plus VAT in further conveyancing charges.
Feel free to take advantage of the find a lender approved solicitor tool on this web page. Pick the lender and type ‘Herne Bay’ or your location and you will be presented with numerous solicitors based in Herne Bay or by proximity to you.
Should my conveyancer be raising enquiries concerning flooding as part of the conveyancing in Herne Bay.
Flooding is a growing risk for conveyancers dealing with homes in Herne Bay. Plenty of people will acquire a house in Herne Bay, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, but there are a numerous searches that may be initiated by the purchaser or on a buyer’s behalf which should figure out the risks in Herne Bay. The conventional set of information given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a usual question of the seller to find out if the premises has ever been flooded. If flooding has previously occurred and is not notified by the owner, then a purchaser could bring a compensation claim as a result of such an misleading answer. A purchaser’s lawyers may also carry out an environmental report. This will reveal whether there is a recorded flood risk. If so, additional inquiries will need to be made.
How does conveyancing in Herne Bay differ for newly converted properties?
Most buyers of new build premises in Herne Bay come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is built. This is because house builders in Herne Bay tend to acquire 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 used to new build conveyancing in Herne Bay 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 Herne Bay before appointing lawyers. I have been told that there is a flying freehold element to the house. The surveyor advised that some lenders tend not grant a loan on a flying freehold house.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Herne Bay. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Herne Bay to see if the conveyancing will be more expensive.
Can you provide any top tips for leasehold conveyancing in Herne Bay with the purpose of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Herne Bay can be reduced where you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers’ representatives. The majority of landlords or managing agents in Herne Bay levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Herne Bay. If you have the benefit of shareholding in the freehold, you should make sure that you have the original share certificate. Obtaining a duplicate share certificate can be a time consuming process and delays many a Herne Bay conveyancing deal. Where a duplicate share certificate is needed, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity. You may think that you are aware of the number of years left on your lease but you should verify this by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. In the circumstances it is important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. A minority of Herne Bay leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
I am the registered owner of a garden flat in Herne Bay, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Herne Bay with a long lease are worth £176,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2106
With only 80 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.