I am hoping to move into my new home in West Malling next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What does the insurance need to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 instructions. These obligations are not unique to conveyancing in West Malling.
My apartment in West Malling is up for sale and I have a buyer. Will the property lawyer have to be on the Co-operative conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Co-operative conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
My wife and I are intent on selling our property in West Malling and according to the buyers it appears that there is a risk of it being constructed on contaminated land. A local lawyer would know that there is no such problem. It does beg the question why the buyers instructed an internet conveyancing outfit as opposed to a conveyancing solicitor in West Malling. We have lived in West Malling for 4 years we know that this is a non issue. Do we contact our local Authority to seek confirmation that there is no issue.
It would appear that you have a conveyancing lawyer already. What do they say? You need to 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 ailment)
I am a sole trader intending to lease a unit on a shopping parade. Can you recommend lawyers offering fixed charges for non-domestic conveyancing in West Malling for less than 2k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in West Malling, including the disposal and acquisition of businesses as well as simply property. If you are hoping to acquire or lease a shop, pub, restaurant, office, retail unit or a complete business we will find you the right firm. As for the charges these will vary based on the structure and complexity of the proposed transaction. Please provide us with your details or phone us so that we can supply you with comprehensive commercial conveyancing calculation.
I am tempted by the attractive purchase price for a couple of flats in West Malling which have approximately forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in West Malling. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the saleability of the lease deteriorates and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this field.
I invested in buying a studio flat in West Malling, conveyancing formalities finalised June 2003. How much will my lease extension cost? Similar flats in West Malling with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease ceases on 21st October 2081
With 56 years unexpired the likely cost is going to be between £29,500 and £34,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
A conveyancing company acted on my conveyancing in West Malling half a dozen years ago having retained my registration documents but has now closed – What steps do I now take to get hold of these?
Deeds, as such, no longer exist as most homes in West Malling are recorded digitally at Land Registry. Where you need to show evidence of proprietorship or are disposing of or re-mortgaging your conveyancing practitioner can obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned with reasonable haste.