My partner and I are looking to acquire a home in Kingsdown and have instructed a Kingsdown conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Chelsea Building Society have this afternoon contacted us to inform me that they have now hit a problem as our Kingsdown solicitor is not on their approved list of lawyers. Please explain?
If you are buying a property needing a mortgage it is usual for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Kingsdown lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
We were just about to exchange contracts for a property in Kingsdown. We encountered a problem. The loan offer with Skipton Building Society runs out on 8/5/2025 but the owners are insisting on a completion date of 12/5/2025. Is it possible to extend the loan expiry date?
The person best placed to address this question is your lawyer who is in a position to determine if he or she is better off negotiating with the lender, owner’s solicitors, selling agents or possibly all parties taking into account the history of your house move to date.
I am the single recipient of my late mum's estate and I have everything in my name now, including the house in Kingsdown. The Kingsdown property was put into my name in February. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my property ownership will be considered the same way as if I'd bought the house in February. Is the property unsalable for six months?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How sensible a view lenders take of it, depend on the lender as this clause primarily exists to pick up on subsales or the wholesaling and assigning of properties.
Can I be sure that the Kingsdown conveyancing solicitor on the Nationwide panel is any good?
When it comes to conveyancing in Kingsdown getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer handling your conveyancing.
My wife and I are in the throws of looking at apartments in Kingsdown and I am about to put in an offer. Should I already have a conveyancing practitioner in place at this point? I am planning to take a mortgage with Nottingham.
It would be sensible to commence 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 forward their contact information on to the selling agent. As you are seeking a mortgage with Nottingham, ask your prospective lawyers if they are on the Nottingham conveyancing panel otherwise they can't do the mortgage legal work.
My husband and I are new on the property ladder - had an offer accepted, yet the estate agent has warned us that the seller will only move forward if we use the agent's recommended lawyers as they want an ‘expedited deal’. We would rather use a family solicitor accustomed to conveyancing in Kingsdown
It is unlikely the sellers are driving this. Should the vendor want ‘a quick sale', turning down a serious buyer is is going to put the whole deal at risk. Avoid the agents and go straight to the owners and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)but you intend to use your own,trusted Kingsdown conveyancing firm - as opposed tothose that will give their negotiator at the agency a kickback or meet his conveyancing targets demanded by HQ.
What are your top tips when it comes to finding a Kingsdown conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Kingsdown conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with several firms including non Kingsdown conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be of use:
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Can they put you in touch with clients in Kingsdown who can give a testimonial?
I bought a leasehold flat in Kingsdown, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Kingsdown with an extended lease are worth £206,000. The ground rent is £45 levied per year. The lease expires on 21st October 2091
With only 66 years remaining on your lease the likely cost is going to range between £11,400 and £13,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
The estate agent has suggested using their lawyer for the conveyancing in Kingsdown - Is it not simpler better to just instruct them?
You need to establish if the selling agent is recommending a conveyancer or introducing to a conveyancing practitioner. There are plenty of Kingsdown selling agents who recommend two or three Kingsdown conveyancing firms purely based on those lawyers offering a great service.