It is a dozen years since I acquired my house in Herne Bay. Conveyancing solicitors have recently been appointed on the sale but I can't track down my title documents. Is this a major issue?
You need not be too concerned. Firstly there is a possibility that the deeds will be with your lender or they could be in the possession of the solicitor who oversaw the purchase. Secondly the chances are that the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring current official copies of the land registers. Nearly all conveyancing in Herne Bay relates to registered property but in the rare situation where your home is not registered it adds to the complexity but is resolvable.
How do I check that the solicitor carrying out my conveyancing in Herne Bay is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus spending £192.00 in another set of conveyancing costs.
Please do make the most of the search tool on this web page. Pick the lender and type ‘Herne Bay’ or your location and you will see numerous solicitors offices in Herne Bay or nearest you.
Will our solicitor be asking questions about flooding during the conveyancing in Herne Bay.
The risk of flooding is if increasing concern for lawyers dealing with homes in Herne Bay. Some people will purchase a property in Herne Bay, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, however there are a numerous checks that may be initiated by the buyer or by their solicitors which can give them a better appreciation of the risks in Herne Bay. The standard completed inquiry forms sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a usual question of the seller to determine whether the premises has ever been flooded. In the event that flooding has previously occurred and is not revealed by the vendor, then a purchaser may bring a claim for damages stemming from an misleading response. A purchaser’s lawyers should also commission an environmental report. This should disclose if there is a recorded flood risk. If so, further investigations will need to be made.
How does conveyancing in Herne Bay differ for newly converted properties?
Most buyers of new build or newly converted property in Herne Bay contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is finished. This is because developers in Herne Bay usually 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 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 Herne Bay or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a house in Herne Bay in advance of retaining conveyancers. I have been advised that there is a flying freehold element to the property. My surveyor has said that some banks may not grant a mortgage on this type of house.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed 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 costs will increase in light of this.
Do you have any advice for leasehold conveyancing in Herne Bay with the aim of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Herne Bay can be avoided where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold information needed by the purchasers’ representatives. In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Herne Bay leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord acquiescing to such works. Where you dont have the consents in place do not contact the landlord without checking with your lawyer before hand. Some Herne Bay leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly 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 buyers or their solicitors. If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Organising a new share certificate is often a time consuming formality and slows down many a Herne Bay home move. If a reissued share certificate is needed, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible. You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.
I am the registered owner of a ground floor flat in Herne Bay, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Herne Bay with an extended lease are worth £176,000. The ground rent is £50 invoiced every year. The lease runs out on 21st October 2106
With only 80 years left to run we estimate the price of your lease extension to span between £8,600 and £9,800 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.