My husband and I are planning to buy a property in Maidstone and are in fact using a Maidstone conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. The Royal Bank of Scotland have this evening contacted us to inform me that they have now hit a problem as our Maidstone lawyer is not on their conveyancing panel. Please explain?
If you are buying a property with the assistance of a mortgage it is standard for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Maidstone solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
My partner and I are nearing an exchange on a flat in Maidstone and my mum and dad have sent the exchange deposit to my lawyer. I am now advised that as the deposit has been sent from someone other than me my lawyer needs to disclose this to my bank. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the lender concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
Your conveyancer is duty bound to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Is it necessary during the course of the conveyancing process to visit the offices of the solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Maidstone so that I can pop in to their offices if required.
Most conveyancing panel lawyers for banks undertake their work through Royal Mail, internet or over phone calls. This means that they can undertake the legal work for your home move regardless of where you live in the country. That being said you should see if you can still book an appointment to visit conveyancing lawyer if just in case this is required.
It has been three months following my purchase conveyancing in Maidstone completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Maidstone is the location of the property. Can you offer any assistance?
Flying freeholds in Maidstone are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Maidstone you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Maidstone 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 premises.
In what way does the Landlord & Tenant Act 1954 impact my commercial property in Maidstone and how can you help?
The 1954 Act affords a safeguard to business lessees, granting the a statutory right to make a request to court for a continuation of occupancy at the end of an expired lease. There are limited grounds that a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Maidstone is one of our numerous areas of the UK in which the firms we work with are based