My husband and I are buying a new build flat in Kings Lynn and my conveyancer is advising me that she has to the mortgage company to disclose incentives from the seller. I am under pressure to exchange contracts and I have no desire to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are the BSA planning on creating a online directory to list solicitors on the Coventry BS conveyancing panel for instance in Kings Lynn?
We would not expect to be advised of any intention on the part of the BSA to promote such a register.
My friend suggested that where I am buying in Kings Lynn I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Kings Lynn conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Kings Lynn around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Kings Lynn Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Kings Lynn Education with plans and statistics, Local Amenities and other useful information concerning Kings Lynn.
Have completed on a a terraced house in Kings Lynn , What is the estimated time for the Land Registry to register the transfer to my name? My Kings Lynn conveyancing solicitor has been very slow, so I want to check that my name is recorded.
There is nothing unique when it comes to conveyancing in Kings Lynn registration formalities. Rather than based on location, timeframes can adjust subject to the party submitting the application, whether there are errors and whether the Land registry communicate with any 3rd parties. At present roughly 80% of such applications are fully addressed within 12 days but occasionally there can be protracted hold-ups. Historically registration occurs once the buyer has moved in to the property therefore registration formalities is not always top priority but where there is a degree of urgency associated with the registration then you or your lawyers can speak with the land registry and explain the circumstances.
Do you have any top tips for leasehold conveyancing in Kings Lynn from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Kings Lynn can be avoided if you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers. Many landlords or Management Companies in Kings Lynn levy fees for providing management packs for a leasehold home. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Kings Lynn. If you have had any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than ongoing. You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is less than 75 years. It is therefore essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Obtaining a new share certificate is often a time consuming process and delays many a Kings Lynn home move. Where a reissued share is necessary, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
I acquired a 1 bedroom flat in Kings Lynn, conveyancing was carried out November 2001. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Kings Lynn with an extended lease are worth £222,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2096
With only 71 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
Been looking for a conveyancing practitioner for leasehold sale conveyancing in Kings Lynn. I'm selling, simple no mortgage to pay off, no rush, currently vacant. Had a quote from a conveyancing practitioner for a thousand pounds plus VAT which is a little high considering its so straightforward. Can I pay less for conveyancing in Kings Lynn?
As it’s a sale only, 475 + VAT is likely to be about the best for sale conveyancing in Kings Lynn.