The owners of the house we are looking to purchase hired a conveyancing solicitor in Kenley who has suggested a exclusivity contract with a down payment 6,000. Are such contracts the norm for Kenley conveyancing transactions?
Exclusivity contracts are agreements between a property vendor and purchaser granting the buyer a ‘clear field’ to purchase the property for a certain period of time. Essentially, a lock out is a document stating that you will have a contract at a later date being the contract for the actual sale. It is generally used for buyer confidence though in some cases, the owner may stand to benefit from such agreements as well. There are many positives and negatives to using an agreement but you need to check with your solicitor but beware that it may result in costing you more in conveyancing fees. In light of this these contracts are avoided in relation to conveyancing in Kenley.
We're in Kenley, First timers purchasing with a mortgage (lender is Kent Reliance , and our solicitor is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
We had appointed solicitors located in Kenley on the Aldermore solicitor panel. They have just billed me a supplemental amount for handling the Aldermore mortgage. Is this a supplemental conveyancing fee set by Aldermore?
Provided it is contained in their Terms of Engagement or estimate then yes your conveyancer may charge a fee for this. The charge is not dictated by Aldermore but by your Kenley conveyancing practitioner. Some firms on the Aldermore panel will charge ’dealing with mortgage’ fee but plenty of practices include it on their overall fee.
We were going to get a OIP from Virgin Money this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Kenley solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Kenley solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
My sealed bid on a property in Kenley has been accepted, the sellers do however have a connected purchase. The vendors have offered on somewhere, however it’s not yet agreed to, and are looking at other flats in the pipeline. I have instructed a high street conveyancing solicitor in Kenley. What do I do now? When should I get the mortgage application with RBS started?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is in the region of £1k, then survey, Kenley conveyancing search costs, etc). First, you should check that your conveyancer is on the RBS approved list. Regarding the subsequent steps this very much depends on the circumstances of your transaction, motivation for this property and on the state of the market. In a hot market some buyers would apply for a home loan with RBS and arrange for the valuation and only if it comes back ok would they request their property lawyer to proceed with the conveyancing in Kenley.
Just had an offer accepted on a new build flat in Kenley. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Kenley
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please confirm the Lease plans are surveyor prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Due to the encouragement of my in-laws I had a survey completed on a house in Kenley in advance of retaining conveyancers. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some banks tend not issue a loan on a flying freehold home.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. If you e-mail us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Kenley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Kenley to see if the conveyancing will be more expensive.
Hoping to buy a property located in Kenley and I am already nervous. I couldn't find anything specific about Kenley. Conveyancing will be needed in due course but do you know about the Kenley area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Kenley. In the meantime here are some basic statistics that we found