Is the fact that my solicitor in Rainham Kent is not on my mortgage company's conveyancing panel that there is a problem with the quality of his conveyancing?
That would most likely be an incorrect assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Rainham Kent conveyancing firm and ask them why they are no longer on the approved list for your bank.
How up to date is your search tool for Rainham Kent conveyancing solicitors on the Aldermore conveyancing panel? Do Aldermore send you an updated list?
Rainham Kent conveyancing firms themselves provide us confirmation that they are on the Aldermore conveyancing panel as opposed to being supplied with a list from Aldermore directly.
Will my solicitor be making enquiries about flooding during the conveyancing in Rainham Kent.
The risk of flooding is if increasing concern for lawyers dealing with homes in Rainham Kent. Plenty of people will buy a house in Rainham Kent, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, but there are a various searches that may be initiated by the buyer or on a buyer’s behalf which can figure out the risks in Rainham Kent. The conventional set of completed inquiry forms given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the seller to determine whether the property has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the vendor, then a purchaser may bring a compensation claim as a result of such an inaccurate answer. The buyer’s conveyancers should also carry out an enviro report. This should reveal if there is any known flood risk. If so, additional investigations will need to be carried out.
Over the last few months I have been searching for a flat up to £245,000 and found one round the corner in Rainham Kent I like with open areas and station nearby, however it's only got 49 years on the lease. I can't really find anything else in Rainham Kent in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a mortgage that many years may be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you may request that they start the process of the extension 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 speak to your conveyancing solicitor about this matter.
I am looking for a conveyancing solicitor in Rainham Kent for my house move. Can I review a firm’s complaints history with the legal regulator?
Anyone may search for documented Solicitor Regulator Association (SRA) decisions stemming from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find information Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The regulator sometimes monitor call for training purposes.
I am looking at a two apartments in Rainham Kent both have approximately forty five years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the saleability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field.
I am the registered owner of a basement flat in Rainham Kent, conveyancing was carried out in 2003. Can you work out an approximate cost of a lease extension? Comparable flats in Rainham Kent with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease ends on 21st October 2091
With 66 years left to run the likely cost is going to span between £12,400 and £14,200 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.