I am obtaining a mortgage with Lloyds. I intend to employ the services of a Licensed Conveyancer in Longfield. Does the Lloyds Solicitor panel exclude Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
At what point can the exchange of contracts take place for residential conveyancing in Longfield and am I required to attend the solicitors branch?
Where you are near to one of the conveyancing solicitors in Longfield you are welcome to attend to sign the paperwork. However, the firms we work with provide countrywide coverage for conveyancing and give just as diligent and professional a job for you when dealing with you digitally. The executing of the contract is not the critical part. Signing on the dotted line is just a prerequisite for the solicitor to address the formalities at the suitable time, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Longfield)to be in the office available at the end of the phone to exchange contracts.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Longfield bank branch on a couple of occasions and was told it does not impact the mortgage offer and they will lend. My Longfield conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend based on their specific requirements. Who do I believe?
Your property lawyer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After shopping around on the internet I have found a Longfield conveyancing practitioner having checked that they are on the HSBC conveyancing panel. Does my lawyer arrange the survey of the property?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC 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 Longfield postcode. As you are getting a mortgage with HSBC, you could contact them to see if they have a list of approved surveyors in Longfield.
After what seems like an age I have had an offer on a maisonette in Longfield agreed to, the vendors do nevertheless have an associated purchase. The owners have offered on a flat, but it’s not yet tied up, and have viewings of other apartments booked. I have instructed a local conveyancing solicitor in Longfield. What should be my next step? At what point should I apply for the mortgage with RBS?
It is usual to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of £1k, then valuation, Longfield conveyancing search charges, etc). The first thing to do is ensure that your lawyer is on the RBS conveyancing panel. Regarding the subsequent steps this very much depends on the circumstances of your case, motivation for the property and on the state of the market. In a hot market some buyers would apply for a home loan with RBS and pay for the valuation and only if it comes back ok would they ask their solicitor to move forward with searches.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Longfield?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Longfield. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
About to purchase a new build apartment in Longfield. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Longfield
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are architect prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants.
Back In 2003, I bought a leasehold flat in Longfield. Conveyancing and Halifax mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Longfield who previously acted has now retired. Do I pay?
First contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Longfield conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I acquired a split level flat in Longfield, conveyancing having been completed 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Longfield with over 90 years remaining are worth £221,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2095
With only 70 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.