How do I search for the right solicitor to supply a first class service for our conveyancing in Kempston?
First ask the people you trust who they would recommend.
Second, search the internet for conveyancing in Kempston. Phone a couple or more firms listed and invite them to email you their conveyancing costs illustrations and discuss your needs with the solicitor who will oversee the conveyancing prior tomaking your choice.
Option 3 is to make use of our search tool to assist you in finding the right solicitors for you based on your unique requirements including location,deadlines, complexity and who the proposed lender is. Don't take the bait of low cost conveyancing in Kempston
I am hoping to complete my purchase in Kempston next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What risks does the bank expect the insurance to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These obligations are not specific to conveyancing in Kempston.
It is a dozen years since I bought my home in Kempston. Conveyancing lawyers have recently been instructed on the sale but I am unable to locate the title documents. Is this a problem?
Don’t worry too much. First there is a possibility that the deeds will be retained by the lender or they may be in the possession of the lawyers who handled your purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors procuring current official copies of the land registers. Nearly all conveyancing in Kempston involves registered property but in the unlikely event that your property is not registered it is more tricky but is not insurmountable.
When it comes to lenders such as UBS, do Kempston property lawyers face a yearly amount to be on the conveyancing panel?
We are unaware of any lender fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
We have a mortgage agreed in principle with HSBC. Kempston conveyancing lawyers have been instructed. What is the average time that one could expect to receive a mortgage offer from HSBC?
There is no definitive answer here. Have HSBC conducted the valuation? Have you advised HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have paid off my mortgage with RBS. I assume I don't need a Kempston property lawyer on the RBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
Various online forums that I have visited warn that are the main cause of hinderance in Kempston house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Kempston.
I am a negotiator for a reputable estate agent office in Kempston where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Kempston conveyancing solicitors. Could you confirm whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I invested in buying a leasehold flat in Kempston, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Similar flats in Kempston with over 90 years remaining are worth £265,000. The ground rent is £50 charged once a year. The lease expires on 21st October 2100
With just 75 years left to run the likely cost is going to span between £8,600 and £9,800 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.