My flat in Kemp Town is up for sale and I have accepted an offer. Will the solicitor need to be on the Nationwide conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
It has been 4 months since my purchase conveyancing in Kemp Town took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying a new build house in Kemp Town with the aid of help to buy. The developers would not move on the amount so I negotiated £7000 of additionals instead. The property agent advised me not to tell my conveyancer about this side-deal as it would put at risk my mortgage with Britannia. Is this normal?.
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.
We are a couple of weeks into a freehold purchase having been recommend to solicitors by the estate agent to perform conveyancing in Kemp Town. I am not happy. Can you help me find new lawyers?
A conveyancer would need to be really bad to suggest diss instructing them. Has your mortgage offer been generated? If so you need to inform them of the new conveyancer and get the loan are re-issued. Your conveyancer should be on the banks approved list to avoid escalating expenses and frustration. So that should be your first question of the new conveyancers. The find a solicitor tool can assist you in finding a lender approved lawyer for your conveyancing in Kemp Town
Back In 2005, I bought a leasehold flat in Kemp Town. Conveyancing and Clydesdale mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Kemp Town who acted for me is not around. Any advice?
First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Kemp Town conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a 1st floor flat in Kemp Town, conveyancing formalities finalised 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Kemp Town with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease runs out on 21st October 2083
With just 57 years left to run we estimate the premium for your lease extension to be between £28,500 and £33,000 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
How and when do I pay the Stamp Duty Land Tax chargeable for my Kemp Town house purchase?
The majority of solicitors tend to complete a stamp duty return on your behalf as part of your Kemp Town purchase transaction for you to sign. After completion your lawyer will submit the STL application to the Tax Authorities and - assuming they have the money - pay any tax bill payable for you.