I am expecting a mortgage with Nat West. I intend to retain the legal services of a Licensed Conveyancer in New Romney. Does the Nat West Conveyancing panel allow for conveyancers regulated by the CLC?
The Nat West conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I require conveyancing for a flat in a fairly new development (seven years built) in New Romney. The vast majority the flats are already occupied. Do I need carry out the conveyancing searches for my conveyancing in New Romney?
You are putting yourself at risk in refusing to carrying out New Romney conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would absolutely advise in no uncertain terms that your solicitor conducts them. Where timings and price are primary concerns you should consider with your conveyancer about the options such as indemnity insurance available to you
I am assisting my mother sell her flat in New Romney. Does the conveyancer commission an energy performance certificate or it is for the owner to coordinate?
After the demise of Home Information Packs, energy performance certificates was left as a compulsory component of moving property. An energy performance certificate needs to be commissioned before the property is placed on the market. It is not as aspect of the sale process that law firms normally arrange. Where you are using a New Romney conveyancing lawyer they might help arrange energy performance certificates given their contacts with long established local assessors
We had selected conveyancing lawyers with offices in New Romney on the Co-operative solicitor approved list. They are now charging me a supplemental amount for dealing with the Co-operative mortgage. Is this an additional conveyancing fee set by Co-operative?
Provided it is contained in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to charge a fee for this. This charge is not dictated by Co-operative but by your New Romney lawyer. Plenty of firms on the Co-operative panel will charge ’dealing with mortgage’ fee but many practices include it on their overall fee.
I am currently in the process of buying my council flat in New Romney. I have a mortgage offer with UBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with UBS, you will need to appoint a solicitor on the UBS conveyancing panel.
What will a local search inform me about the property my wife and I purchasing in New Romney?
New Romney conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance Onsearch The local search plays an important role in most New Romney conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your new home. The search will supply data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
I am buying a new build house in New Romney benefiting from help to buy. The builders refused to budge the amount so I negotiated £7000 of extras instead. The estate agent advised me not reveal to my conveyancer about the deal as it could put at risk my mortgage with Santander. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Do you have any advice for leasehold conveyancing in New Romney from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in New Romney can be reduced where you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers’ conveyancers. You may think that you are aware of the number of years left on your lease but you should double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 75 years. In the circumstances it is essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. A minority of New Romney leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly 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 lawyers. In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in New Romney state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord acquiescing to such alterations. If you dont have the approvals in place do not contact the landlord without contacting your conveyancer in the first instance.
I own a leasehold flat in New Romney, conveyancing formalities finalised 6 years ago. How much will my lease extension cost? Equivalent flats in New Romney with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ends on 21st October 2101
With only 76 years left to run we estimate the price of your lease extension to span between £8,600 and £9,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.