My lawyer has informed me that lack of right of way insurance is required on my purchase. What is the level of cover for Northfleet conveyancing?
The right level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between National Westminster Bank and Chelsea Building Society. Conveyancing lawyers as opposed to borrowers take out such insurances.
How can we tell if a Northfleet conveyancing solicitor on the Santander panel is any good?
When it comes to conveyancing in Northfleet seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor conducting your conveyancing.
I recently had an offer accepted on a house in Northfleet. My financial adviser suggested a conveyancer. I paid an upfront payment of £200. A couple of days later, the lawyer contacted me to say that they were not on the Aldermore conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Aldermore panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
We are planning on selling our property in Northfleet and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any local conveyancer would know this is not the case. For the life of me I don't know why the buyers used a nationwide conveyancing firm as opposed to a conveyancing solicitor in Northfleet. We have lived in Northfleet for 5 years we know of no issue. Is it a good idea to get in touch with our local Authority to get confirmation that the buyers are looking for.
It would appear that you have a conveyancing solicitor already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I got the keys to my flat on 10 April and my personal details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Northfleet advises it would be dealt with in less than a month. Are titles in Northfleet particularly slow to register?
There is nothing unique when it comes to conveyancing in Northfleet registration formalities. Rather than based on location, timescales can differ according to who lodges the application, whether there are errors and whether the Land registry must send notices to any interested parties. At present roughly three quarters of such applications are completed in less than three weeks but some can be subject to longer delays. Registration occurs once the buyer is living at the premises so post completion formalities is not always primary concern but if there is a degree of urgency associated with the registration then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
I'm buying a new build house in Northfleet with a loan from Accord Mortgages Ltd. The builders refused to move on the price so I negotiated five thousand pounds worth of extras instead. The property agent advised me not disclose to my lawyer about the side-deal as it could adversely affect my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
How do I use the search tool to select a conveyancing practitioner in Northfleet on the authorised to act for my mortgage?
Step one is to select a lender such as Accord Mortgages Ltd, Virgin Money or Godiva Mortgages Ltd then specify your location for example Northfleet. Conveyancing practices in Northfleet and further afield will then be identified.
I work for a long established estate agent office in Northfleet where we have witnessed a few leasehold sales put at risk due to short leases. I have been given inconsistent advice from local Northfleet conveyancing firms. Please can you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I purchased a garden flat in Northfleet, conveyancing was carried out 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Northfleet with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease comes to an end on 21st October 2078
With just 53 years remaining on your lease we estimate the price of your lease extension to be between £27,600 and £31,800 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.