I am buying a newly built duplex in Kettering and my conveyancer is informing me that she has to the mortgage company to reveal incentives from the seller. The Estate Agents are hassling me to exchange and I would rather not prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do I have to pop into the offices of the solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Kettering so that I can pop in to their offices if required.
Whereas this was necessary twenty years ago, almost all mortgage companies no longer oblige their conveyancing panel lawyer to witness the mortgagors signature. You will still be obliged to supply ID documents and there are still distinct advantages to instructing a local ayer, in your situation a conveyancing solicitor in Kettering.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Kettering?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Kettering. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Kettering. 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.
Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Kettering
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Forfeiture - bankruptcy or liquidation must not apply under this provision. 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. 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? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Am I best advised to appoint a Kettering conveyancing solicitor based in the area that I am purchasing? I have an old university friend who can perform the legal work but his firm is located a couple of hundredkilometers away.
The primary upside of using a high street Kettering conveyancing practice is that you can pop in to execute documents, deliver your identification documents and apply pressure on them where appropriate. Having local Kettering know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and the majority were impressed that should outweigh using an unfamiliar Kettering conveyancing lawyer just because they are local.
I have just appointed agents to market my basement flat in Kettering. Conveyancing lawyers have not yet been instructed, however I have recently had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the invoice as usual given that all rents and maintenance payments should be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Kettering Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
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Where a Kettering lease has fewer than 80 years it will affect the salability of the apartment. Check with your lender that they are willing to to proceed given the lease term. A short lease means that you will almost definitely have to extend the lease at some point and you need to have some idea of what this would cost. For most Ketteringlease extensions you would need to own the property for 24 months before you are entitled to exercise a lease extension. How many years remain on the lease? How many of the leaseholders are in arrears for their maintenance charge payments?