I am progressing with the sale of my maisonette in Kingston and the estate agent has just e-mailed to say that the purchasers are appointing a new conveyancer. The reason given is that the mortgage company will only deal with solicitors on their approved list. Why would a major lender only deal with specific law firms rather the firm that they want to select for their conveyancing in Kingston ?
Lenders have always had an approved set of law firms that can act for them, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks justify this action to a rise in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any impact on this.
I purchased a freehold residence in Kingston yet charged rent, why is this and what is this?
It is rare for properties in Kingston and has limited impact for conveyancing in Kingston but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I am purchasing my first flat in Kingston with a mortgage from Britannia. The builders would not move on the amount so I negotiated 6k of additionals instead. The house builders rep advised me not reveal to my conveyancer about the side-deal as it would impact my mortgage with Britannia. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am selling my property. My former lawyers have shut. It would be helpful to have a recommendation of a conveyancing firm. Im based in Kingston if that makes a difference.
Do use our search tool to help you find a solicitor for your conveyancing in Kingston. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
Am I better off to use a Kingston conveyancing practitioner based in the vicinity that I am hoping to buy? We have a good friend who can carry out the conveyancing but his firm is located 300miles drive away.
The primary upside of using a high street Kingston conveyancing practice is that you can visit the firm to sign documents, hand in your identification documents and apply pressure on them if necessary. Having local Kingston know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and in the main were impressed that must surpass using an unfamiliar Kingston conveyancing lawyer solely due to them being Kingston based.
I am looking at a two maisonettes in Kingston which have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Kingston. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease deteriorates and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area.
Leasehold Conveyancing in Kingston - A selection of Queries before buying
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What restrictions are contained in the Kingston Lease? Who takes charge for maintaining and repairing the building? It would be a good idea to discover if the the lease includes any adverse restrictions in the lease. By way of example some leases prohibit pets being permitted in certain buildings in Kingston. If you love the apartmentin Kingston yet your cat can’t move with you then you have a very difficult determination.