My wife and I are purchasing a newly constructed flat in Northfleet and my conveyancer is telling me that she has to the mortgage company to disclose incentives from the builder. I am under pressure to exchange and I would rather not delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Is there a list of TSB panel solicitors in Northfleet on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. Very few lending institutions make their panel listings open the public online. Where you are seeking to appoint a Northfleet conveyancer on the TSB please make the most of our tool.
I am currently in the process of buying my council flat in Northfleet. I have a mortgage agreed with Leeds Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
After shopping around on the internet I have found a Northfleet lawyer having checked that they are on the Barclays conveyancing panel. Does my lawyer arrange the survey of the property?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Northfleet postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in Northfleet.
I require fast conveyancing in Northfleet as I am under an ultimatum to sign on the dotted line inside 3 weeks. A mortgage is not required. Can I decline from having conveyancing searches to save money and time?
If.Given you are not obtaining a mortgage you have the choice not to do searches although no lawyer would recommend that you don't. Drawing on years of experience of conveyancing in Northfleet the following are instances of issues that can arise and therefore impact market value: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...
4 months have gone by following my purchase conveyancing in Northfleet took place. 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 property 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 today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Northfleet. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Northfleet ?
Most houses in Northfleet are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Northfleet in which case you should be shopping around for a Northfleet conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.
I am the registered owner of a 1st floor flat in Northfleet, conveyancing formalities finalised in 2011. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Northfleet with an extended lease are worth £202,000. The ground rent is £60 charged once a year. The lease comes to an end on 21st October 2082
With 57 years remaining on your lease the likely cost is going to be between £28,500 and £33,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
My partner and I hope to purchase our first home in Northfleet. Conveyancing solicitor already instructed. The mortgage adviser suggested that a survey is not necessary as the property was only constructed twenty two years ago.
At the very least you should have a Home Buyer's Report. Given the premises was built over a decade ago the property will not come with a warranty, so you would be well advised not to take a risk. For a property that age with no signs of defects a Home Buyer's report could be sufficient. The report should highlight any apparent issues and suggest additional investigation if appropriate. If there are any indications of problems seek a full structural survey.