My partner and I are hoping to purchase a property in Kent and have appointed a Kent conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Coventry Building Society have this afternoon contacted us to inform me that there is now an issue as our Kent conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Kent lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Our nephew is in the process of securing a newly built flat in Kent with a mortgage from Bank of Ireland. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Bank of Ireland conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My wife and I purchased a renovated Edwardian house in Kent. Conveyancing practitioner acted for me and Accord Mortgages Ltd. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold under the exact same property. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Kent and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing lawyer who conducted the purchase.
I am looking for a flat up to £195,000 and found one round the corner in Kent I like with open areas and station in the vicinity, however it's only got 51 years on the lease. There is not much else in Kent in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan that many years will be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
I am using a search engine for the phrase conveyancing in Kent it brings up numerous property lawyerslocally. With so much choice what is the best way to find the suitable conveyancing solicitor for the sale of my house?
The preferential method of seeking a suitable conveyancer is via trusted recommendation, so seek the guidance of friends and family who have bought a property in Kent or a local estate agent or mortgage broker. Fees for conveyancing in Kent differ, so it's a good idea to secure a minimum of three estimates from different solicitors. Make sure that you clarify that the fees are fixed.
I have noted on numerous online forums that before selecting a conveyancing solicitors they need approved by your mortgage company. This is my first home move but I have an AIP via Virgin Money and I already have a high street conveyancing lawyer in Kent in place. Will Birmingham Midhshires require an approved solicitor to be instructed? If so, where can I find that list for my conveyancing in Kent?
You need to choose a solicitor that is on the Birmingham Midhshires panel. The simplest thing to do is ring your chosen Kent conveyancing lawyer and ask if they are on the Birmingham Midhshires panel. If they are not approved you have a number of alternatives open to you here:
- Carry on with your chosen Kent lawyer but Birmingham Midhshires will undoubtedly use a property lawyer on their conveyancing panel. The net impact is additional charges together with potential delay.
- Appoint a fresh conveyancing practitioner to act in the purchase, not forgetting to check that they are on the Birmingham Midhshires conveyancing panel.
- Convince your conveyancer to do everything within their powers to join the Birmingham Midhshires panel of solicitors.