Why is leasehold purchase conveyancing in Rainham Kent costs more?
Rainham Kent leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
The Rainham Kent conveyancing lawyers that I appointed last week on my house acquisition in Rainham Kent have without warning shut down. I only went with them because I needed a lawyer on the Nottingham conveyancing panel and my previous Rainham Kent lawyer was not. I paid them £170 on account. What are my options?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Nottingham conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
My husband and I have arranged a further advance on our mortgage from Nationwide as we want to carry out improvements to our home in Rainham Kent. Do we need to choose a nearby Rainham Kent solicitor on the Nationwide conveyancing panel to deal with the paperwork?
Nationwide would not normally instruct a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide panel.
My fiancee and I are in the throws of looking at houses in Rainham Kent and I am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a mortgage with Barclays.
It would be wise to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. As you are seeking a mortgage with Barclays, make sure you remember to check that your lawyer is on the Barclays conveyancing panel.
I recently had an offer accepted on a house in Rainham Kent. My financial adviser recommended their conveyancers. I paid an advanced payment of £175. Shortly after, the conveyancing practitioner contacted me sheepishly admitting that they were not on the Virgin Money 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 Virgin Money 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.
How does conveyancing in Rainham Kent differ for newly converted properties?
Most buyers of new build premises in Rainham Kent approach us having been asked by the seller to sign contracts and commit to the purchase even before the residence is completed. This is because developers in Rainham Kent typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Rainham Kent or who has acted in the same development.
I am thinking of appointing a conveyancing practitioner in Rainham Kent for my home move. Is there any facility to check a firm’s complaints history with the profession’s regulator?
Anyone may see published Solicitor Regulator Association (SRA) decisions resulting from inquisitions started on or after Jan 2008. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The SRA could recorded telephone calls for training purposes.
Do you have any top tips for leasehold conveyancing in Rainham Kent with the intention of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Rainham Kent can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ representatives. You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is below 80 years. It is therefore important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. Many freeholders or managing agents in Rainham Kent levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Rainham Kent. A minority of Rainham Kent leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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 solicitors.
Rainham Kent Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
-
What is the length of the lease? It is important to be aware whether redecorating or some other major work is anticipated to be shared by the leasehold owners and will dramatically impact the level of the service charges or necessitate a one off invoice. Is anyone aware of any major works on the horizon that will likely increase the service fees?