The Kesgrave conveyancing firm handling our Kesgrave conveyancing has discovered a discrepancy when comparing the surveyor’s assumptions in the home valuation survey and what is in the legal papers for the property. My lawyer informs me that he is duty bound to check that the bank is happy with this discrepancy and is still content to lend. Is my conveyancer’s approach right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
We note that you have a post code search directory identifying solicitors on the Co-operative conveyancing panel. Do companies pay you a referral fee if I instruct them for our conveyancing in Kesgrave?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Kesgrave.
I happen to be the sole beneficiary of my late mum's will and I have everything in my name now, including the my former home in Kesgrave. The Kesgrave property was put into my name in May. I now wish to sell up. I do know about the CML 6 month 'rule', meaning my property ownership could be treated the same way as if I'd bought the house in May. Is the property unsalable for six months?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. Most banks would take a practical view as this provision primarily exists to pick up on subsales or the quick reselling of property.
My fiancee and I are in the process of viewing flats in Kesgrave and I am about to put in an offer. Is it wise to have a solicitor on ‘stand by’? I am planning to take a mortgage with Kent Reliance.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are obtaining a mortgage with Kent Reliance, ask your prospective lawyers if they are on the Kent Reliance conveyancing panel otherwise they can't do the mortgage legal work.
I have a mortgage with Leeds Building Society for my property in Kesgrave. Conveyancing was finalised a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Leeds Building Society?
Your original mortgage agreement with Leeds Building Society will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. It should not be necessary to do this via a Leeds Building Society conveyancing panel lawyer.
I have recentlybeen informed that Wolstenholmes have been shut down. They carried out my conveyancing in Kesgrave for a purchase of a freehold house 10 months ago. How can I be sure that my home is not still registered in the name of the former proprietor?
The quickest way to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Kesgrave conveyancing specialists.
What tools are available to identify a Kesgrave solicitor on the Barnsley Building Society conveyancing panel? I am a keen cyclist and am happy to travel upto 10kilometers to meet the lawyer.
You can use the search on this website. Please pick a bank and your location and you will see a number of Kesgrave conveyancing lawyers based on proximity. We have listed some Kesgrave conveyancing firms towards the end of this page and you can ring them to see if they are on the Barnsley Building Society approved list
What are the common defects that you encounter in leases for Kesgrave properties?
Leasehold conveyancing in Kesgrave is not unique. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
-
Service charge per centages that don't add up correctly leaving a shortfall Repairing obligations to or maintain parts of the property
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Royal Bank of Scotland, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.
I purchased a studio flat in Kesgrave, conveyancing was carried out in 2004. How much will my lease extension cost? Similar properties in Kesgrave with an extended lease are worth £191,000. The ground rent is £55 yearly. The lease ceases on 21st October 2079
You have 54 years left to run we estimate the premium for your lease extension to be between £31,400 and £36,200 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.