Our lawyer has identified a a legal deficiency with the lease for the flat we are purchasing in West Malling. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer has advised that he must ensure that the lender is happy with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
When scouring mumsnet.com for a cheap lawyer in West Malling, most say that I must instruct a CQS kitemarked solicitor. What is CQS?
West Malling Conveyancing Quality Scheme law firms have been granted certification under the Law Society's Scheme (CQS) CQS was created to establish evidence of quality standards in the home moving process. CQS enables home movers to recognise practices who provide a quality residential conveyancing. West Malling is one of the many areas in England and Wales in which accredited firms are based. The conveyancing scheme requires law firms to undergo a strict assessment, compulsory training, self-certification, spot checks and yearly assessments in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Council of Mortgage Lenders.
I had a mortgage agreed in principle with Santander. West Malling conveyancing practitioners were instructed. What is the average time that one could expect to receive a mortgage offer from Santander?
Some lenders take longer than others. Have Santander completed the survey? Have you informed Santander as to your lawyers' details and checked that your lawyers are on the Santander conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Completion of my purchase has taken place for my property in West Malling. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I have instructed a West Malling property lawyer having made sure that they are on the Coventry BS conveyancing panel. Does my lawyer arrange the survey of the property?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS 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. You may wish to consider appointing your own West Malling surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. West Malling is where the house is located. Is there any advice you can give?
Flying freeholds in West Malling are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside West Malling you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in West Malling may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
How do I identify a West Malling law firm on the Chelsea Building Society conveyancing panel? I am a keen cyclist and am willing to travel upto 25miles to meet the solicitor.
Feel free to make use of the facility on this website. Please pick a mortgage company and your location and you will see a number of West Malling conveyancing lawyers locally. We have listed some West Malling conveyancing firms at the bottom of this page and you can call them to verify if they are on the Chelsea Building Society approved list
I have just started marketing my garden flat in West Malling. Conveyancing lawyers have not yet been instructed, but I have just had a quarterly service charge demand – what should I do?
It best that you pay the service charge as you normally would given that all ground rent and service charges should be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a ground floor flat in West Malling, conveyancing was carried out in 2003. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in West Malling with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease finishes on 21st October 2081
With 55 years left to run we estimate the price of your lease extension to range between £31,400 and £36,200 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.