Is the fact that my conveyancer in Longfield is not listed on my lender's solicitor panel that there is a problem with the quality of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Longfield conveyancing firm and enquire why they are no longer on the approved list for your lender.
Our nephew is purchasing a house that has just been built in Longfield with a mortgage from Kent Reliance. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Kent Reliance conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Kent Reliance conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do conveyancers ask for money up-front when it comes to conveyancing in Longfield?
Where you are retaining lawyers for conveyancing in Longfield your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. Ordinarily this is requested to cover the fees of the Local Authority Search. If any down payment is as part of the total price then this will be required shortly ahead of contracts are exchanged. Any further balance that is needed should be transferred a few days prior to the completion date.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Longfield is the location of the property. Can you offer any assistance?
Flying freeholds in Longfield are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Longfield you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Longfield may decide 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.
In my capacity as executor for the will of my grandfather I am disposing of a property in Monmouth but live in Longfield. My lawyer (approximately 250 kilometers from meneeds me to execute a stat dec before completion. Can you recommend a conveyancing solicitor in Longfield to witness this legal document for me?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are located in Longfield
Can you provide any advice for leasehold conveyancing in Longfield with the purpose of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Longfield can be avoided if you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers’ conveyancers. The majority of landlords or Management Companies in Longfield charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Longfield. Some Longfield leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. If you have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unsettled. If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Organising a new share certificate can be a time consuming formality and frustrates many a Longfield conveyancing transaction. Where a new share is required, you should approach the company officers or managing agents (where relevant) for this as soon as possible.
I invested in buying a 1st floor flat in Longfield, conveyancing having been completed 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Longfield with an extended lease are worth £206,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2093
With just 67 years remaining on your lease we estimate the price of your lease extension to be between £10,500 and £12,000 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.