Me and my partner are buying an apartment in Kingsley. My lawyer is not listed on the bank solicitor list. Am I still permitted to retain my Kingsley conveyancing solicitor notwithstanding that they are excluded from the bank panel of approved conveyancing solicitors?
You have numerous options open to you here
- Carry on with your chosen Kingsley conveyancer but your bank will no doubt use a property lawyer from their approved panel. The net result is additional cost and probable frustration.
- Get a fresh solicitor to conduct the conveyancing, ensuring that they are on the mortgage company conveyancing panel.
- Convince your conveyancer to attempt to join the mortgage company panel
The Kingsley conveyancing firm handling our Kingsley conveyancing has identified a difference between the assumptions in the home valuation survey and what is in the legal papers for the property. My lawyer has advised that he is obliged to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s stance right?
Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions 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.
Forgive me if this question is silly but I am unexperienced as FTB of a two bedroom flat in Kingsley. Do I collect the keys to the property on the completion date from my conveyancer? If this is the case, I will appoint a High Street conveyancing solicitor in Kingsley?
On the day of completion you do not need to attend the conveyancers office in Kingsley. Your solicitors will arrange to send the completion advance to the owner’s lawyers, and shortly after the monies have arrived, you should be able to pick up the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
About to purchase maisonette in Kingsley. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Kingsley lawyer is on the RBS conveyancing panel.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Kingsley solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Kingsley postcode. As you are getting a mortgage with Bank of Ireland, you could contact them to see if they have a list of approved surveyors in Kingsley.
How does conveyancing in Kingsley differ for new build properties?
Most buyers of new build residence in Kingsley come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Kingsley tend to purchase the land, 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 Kingsley or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Kingsley is where the house is located. Can you shed any light on this issue?
Flying freeholds in Kingsley are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kingsley you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kingsley may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
There are only Fifty years left on my lease in Kingsley. I now wish to get lease extension but my landlord is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to find the freeholder. In some cases an enquiry agent would be useful to carry out a search and prepare an expert document which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the application to the County Court overseeing Kingsley.
Kingsley Leasehold Conveyancing - A selection of Queries Prior to Purchasing
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In the main the cost for major works are not included within service charges, albeit that some managing agents in Kingsley require leasehold owners to pay into a sinking fund and this is used to offset against larger repairs or maintenance. Please note if it is less than eighty years it will affect the value of the apartment. Check with your bank that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease at some point and you need to have some idea of what this would cost. Remember, in most cases you would be required to have been the owner of the residence for two years in order to be legally able to exercise a lease extension. Best to be warned if a new roof is being installed or some other major work is coming up to be shared amongst the leaseholders and could well materially increase the the service fees or result in a specific invoice.