Please explain the implications if my lawyer’s firm is expelled from the Virgin Money Conveyancing panel ahead of completing my conveyancing in Kineton?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
It has been four months since my purchase conveyancing in Kineton completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Kineton differ for new build properties?
Most buyers of new build or newly converted property in Kineton contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Kineton usually buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Kineton or who has acted in the same development.
How easy is it to use your search tool to locate a conveyancing solicitor in Kineton on the approved list for my lender?
1st pick a lender such as Halifax, The Mortgage Works or Aldermore then specify your preferred area for instance Kineton. Conveyancing organisations in Kineton and across England and Wales will then be shown.
I’m about to sell my 2 bed apartment in Kineton. Conveyancing lawyers have not yet been instructed, however I have just received a yearly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as usual given that all rents and maintenance charges should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless 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.
I invested in buying a 2 bed flat in Kineton, conveyancing having been completed 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Kineton with over 90 years remaining are worth £180,000. The ground rent is £65 yearly. The lease terminates on 21st October 2084
With only 59 years remaining on your lease we estimate the premium for your lease extension to range between £20,900 and £24,200 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.
My partner and I intend to acquire our first house in Kineton. Conveyancing solicitor has been instructed. The mortgage adviser advised that a survey is not needed as the property was only constructed in 2001.
As the bare minimum you need a Home Buyer's Report. Given the premises was built more than a decade ago the property will be without a warranty, so you don't want to take a risk. For a property that age with no signs of defects a Home Buyer's report could suffice. The report should highlight any obvious issues and recommend additional investigation where relevant. Where there are any indications of material issues get a comprehensive structural survey.