My wife and I are hoping to buy a house in Maidstone and are in fact using a Maidstone conveyancing practice. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Barclays have this morning contacted us to inform me that there is now an issue as our Maidstone conveyancer is not on their conveyancing panel. Please explain?
Where you are buying a property needing a mortgage it is normal for the purchasers' lawyers to also represent 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 Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Maidstone lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Can you suggest a Barclays accepted Maidstone conveyancing firm finish our home move within two weeks? Am I best advised to go for a high street Maidstone firm or a factory type conveyancer?
We can recommend some very good Maidstone conveyancing firms. You can also walk up the high street in Maidstone. Go in to some well established firms and request to see a conveyancing solicitor for a quote. Discuss your deadline together with the reasons and ask for an assurance on your deadline. Appoint the one that you trust.
I have recentlydiscovered that Arc property Solicitors have been shut down. They conducted my conveyancing in Maidstone for a purchase of a leasehold flat 18 months ago. How can I establish that my home is in my name in the name of the former proprietor?
The quickest way to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Maidstone conveyancing specialists.
I have been on the look out for a leasehold apartment up to £245,000 and identified one round the corner in Maidstone I like with open areas and station in the vicinity, however it's only got 52 years on the lease. I can't really find anything else in Maidstone suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
I am looking to sell my home. My previous lawyers closed down. It would be helpful to have a recommendation of a conveyancing firm. Im based in Maidstone if that makes a difference.
Do use our search tool to help you find a solicitor for your conveyancing in Maidstone. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
Are there common defects that you see in leases for Maidstone properties?
There is nothing unique about leasehold conveyancing in Maidstone. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
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A provision to repair to or maintain elements of the building A duty to insure the building
You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, The Mortgage Works, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.
I acquired a basement flat in Maidstone, conveyancing having been completed December 2002. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Maidstone with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 levied per year. The lease comes to an end on 21st October 2088
You have 63 years unexpired we estimate the premium for your lease extension to be between £16,200 and £18,600 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive 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. You should not take any other action based on this information without first getting professional advice.