Is there a reason why leasehold purchase conveyancing in Kent costs more?
In summary, leasehold conveyancing in Kent and elsewhere usually requires extra hours of investigation compared to freehold transactions. This includes lease investigation, liaising with the landlord about the service of required notices, obtaining current service charge and management information, obtaining the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first entered into.
We're in Kent, First timers purchasing with a mortgage (lender is Skipton , and our solicitor is on the Skipton conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Skipton 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.
Is it correct that all Kent CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing list of approved solicitors?
A selection of lenders now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
When it comes to mortgage companies such as Nottingham, do Kent conveyancing practitioners incur an annual charge to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
My wife and I are at the point of looking at houses in Kent and I am about to put in an offer. Should I already have a lawyer appointed at this point? I am planning to take a home loan with Skipton.
It would be wise to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. Given that you are taking out a mortgage with Skipton, make sure you remember to check that your lawyer is on the Skipton conveyancing panel.
My colleague advised me that if I am purchasing in Kent I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Kent conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Kent around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Kent Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data regarding Kent.
I acquired my house on 8 November and my personal details is yet to be on the land registry website. Should I be concerned? My conveyancing solicitor in Kent expressed confidence that it should be concluded inside ten days. Are titles in Kent uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Kent registration formalities. As opposed to being determined by geographic area, timeframes can adjust depending on who lodges the application, whether it is in order and if the Land registry communicate with any interested persons or bodies. As of today approximately 80% of such applications are fully addressed in less than three weeks but some can be subject to longer delays. Historically registration occurs once the purchaser has moved in to the property thus registration formalities is not typically top priority yet where there is a degree of urgency associated with the registration then you or your lawyers can communicate with the Registry to express the reasoning for an expedited registration.
I am intending to rent out my leasehold flat in Kent. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your previous Kent conveyancing solicitor is no longer around you can check your lease to check if it allows you to sublet the apartment. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you must obtain consent from your landlord or some other party prior to subletting. This means that you cannot sublet without prior permission. Such consent is not allowed to be unreasonably turned down. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I bought a ground floor flat in Kent, conveyancing was carried out in 2003. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Kent with over 90 years remaining are worth £176,000. The ground rent is £50 levied per year. The lease ends on 21st October 2104
You have 79 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.