Just been in touch with my conveyancing lawyer in Kingston upon Thames who completed the legal work 18 months ago and wanted a conveyancing estimate based on an identical type of house move (a leasehold residence and a freehold property) of similar values with a mortgage from Virgin Money. I am now being quoted double. Am I right to be tempted to shop around for a cheaper internet property lawyer?
The estimate does seem a tad steep. If you shop around you could reduce the fees marginally by as much as £125. That being said, assuming were satisfied with the conveyancing the firm gave you mightcome to rue opting for an an unknown lawyer. Remember to check the solicitor can represent Virgin Money. You can utilise our search tool to locate a Kingston upon Thames conveyancing firm on the Virgin Money approved list of lawyers, which can often include conveyancing solicitors in Kingston upon Thames.
I have given 2 months notice to my current landlord and must leave my let out property in Kingston upon Thames by the end of next month. Conveyancing for my house purchase is progressing. Can I complete in 5 weeks as don't want to have to move into temporary accommodation?
It is unwise to give notice for your letting unless your lawyer suggests that you should. If you have not already done so, update to your lawyer and urge them to they apply pressure on the owners side, try to an acceptable time-line that everyone will work towards
Is there a reason why leasehold purchase conveyancing in Kingston upon Thames is more expensive?
In short, leasehold conveyancing in Kingston upon Thames and elsewhere usually involve more due diligence compared to freehold transactions. This includes lease investigation, liaising with the landlord concerning the service of required notices, securing up-to-date service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first granted.
I got the keys to my flat on 3 July and the transaction details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in Kingston upon Thames advises it would be concluded in less than a month. Are properties in Kingston upon Thames uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Kingston upon Thames registration formalities. As opposed to being determined by geographic area, timeframes can adjust depending on the party submitting the application, whether there are errors and if the Land registry communicate with any 3rd parties. As of today approximately three quarters of such applications are fully addressed in less than three weeks but some can be subject to longer delays. Registration takes place once the new owner has moved in to the premises thus 'speed' is not always an essential issue but if it is urgent that the the registration takes place urgently then you or your lawyers should contact the land registry and explain the circumstances.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one close by in Kingston upon Thames I like with open areas and transport links in the vicinity, the downside is that it only has 61 years on the lease. I can't really find anything else in Kingston upon Thames in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan the shortness of the lease will likely be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
We are in the middle of purchasing a house in Kingston upon Thames. Conveyancing solicitor has told us the title is "Leasehold". Will this likely impact our home loan valuation?
Kingston upon Thames conveyancing does not usually involve leasehold houses. The main factor here is the unexpired lease term and the ground rent. If there are over a hundred years remaining with a nominal rent, it's almost the same as freehold, so it’s unlikely to affect the saleability significantly.
At the other extreme, if it's, say, Sixty years it will have a material impact on the value, and most likely wouldn't be acceptable to the mortgage company. The remaining lease term and ground rent will be set out in the lease which should be made available to your conveyancing practitioner.