I can't travel far from Maidstone. What is the rationale as to why all Maidstone solicitors aren't included on all mortgage company panels?
Lenders ordinarily impose restrictions on either the type or the number of conveyancing firms on their panel. A common example of such restriction(s) being that the practice needs to have two or more partners. As well as restricting the type of firm, some lenders decided to limit the number of conveyancers they permit to represent them. It is worth noting that banks have no responsibility for the standard of advice given by any Maidstone conveyancer on their panel. Mortgage fraud was the main trigger for the reduction of solicitor panels from 2008 even though there are differing views concerning whether solicitors sat at the center of that fraud. Data via the Land Registry exposes that thousands of law firms only transact a couple of conveyances a year. Those advocating conveyancing panel culls ask why conveyancing firms deserve the right to be listed on a conveyancing panel when clearly conveyancing is not their primary expertise?
Why is leasehold purchase conveyancing in Maidstone costs more?
Maidstone leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Despite weeks of looking the Title Certificate and documents to my home are lost. The solicitors who did the conveyancing in Maidstone 5 years ago have long since closed. Will I be able to sell the house?
As long as you have a registered title the details of your proprietorship will be documented by HMLR under a Title Number. It is possible to execute a search at the Land Registry, identify your property and secure current copies of the Registered Entries for a small fee. Where the title is Leasehold then the Land Registry will in most cases retain a certified copy of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.
I opted to have a survey completed on a house in Maidstone before retaining lawyers. I have been informed that there is a flying freehold element to the property. My surveyor advised that some mortgage companies may not issue a loan on this type of property.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Maidstone. Conveyancing will be smoother if you use a solicitor in Maidstone especially if they are familiar with such properties in Maidstone.
We expect to complete our sale of a £325,000 garden flat in Maidstone next Wednesday. The landlords agents has quoted £396 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Maidstone?
For most leasehold sales in Maidstone conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Completing pre-contract questions
Where consent is required before sale in Maidstone
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I invested in buying a garden flat in Maidstone, conveyancing was carried out October 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Maidstone with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ceases on 21st October 2085
With just 60 years unexpired the likely cost is going to be between £20,000 and £23,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure 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. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
When it comes to my conveyancing in Maidstone should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Maidstone conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.