We are acquiring our first home. Our conveyancing practitioner has texted usto see if we would like to take out extra conveyancing searches. Unfortunately we are clueless as to what's appropriate for conveyancing in West Malling
The range of West Malling conveyancing searches depends entirely on the premises, the location, the likelihood of any of these risks, your familiarity of the locality and risks, your general appetite to risk. What matters is that you adequately appreciate what information each search could provide. You may then make a decision if you consider that you need that search. If in doubt, ask your property lawyer to advise.
Forgive me if this question is silly but I am wet behind the ears as a 1st time buyer of a ground floor flat in West Malling. Do I collect the keys to the property on the completion date from my conveyancer? If this is the case, I will use a High Street conveyancing solicitor in West Malling?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the seller's lawyers, and shortly after the monies have arrived, you should be able to pick up the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local West Malling bank branch on a couple of occasions and was advised it wasn't a problem and they will lend. My West Malling conveyancing solicitor - who is on the bank conveyancing panel- called and was told they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the conveyancer is on the mortgage company panel, she or he must adhere to the CML Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
My offer on a property in West Malling has been accepted, but there is a chain. The sellers have put an offer on a flat, however it’s not been accepted yet, and are looking at other apartments booked. I have chosen a bricks and mortar conveyancing solicitor in West Malling. What do I do now? When should I get the mortgage application with Bank of Ireland started?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then survey, West Malling conveyancing search costs, etc). The first thing to do is ensure that your solicitor is on the Bank of Ireland conveyancing panel. Concerning the next stages this very much dictated by the specifics of your transaction, motivation for this property and on the state of the market. In a hot market the majority of home buyers will apply for the mortgage with Bank of Ireland and arrange for the valuation and only if it was satisfactory would they pay their conveyancing practitioner to proceed with searches.
Will my lawyer be raising questions concerning flooding as part of the conveyancing in West Malling.
Flooding is a growing risk for lawyers specialising in conveyancing in West Malling. Some people will acquire a house in West Malling, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to offer advice on flood risk, but there are a number of checks that can be undertaken by the purchaser or on a buyer’s behalf which will figure out the risks in West Malling. The conventional set of information supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to find out if the property has historically flooded. In the event that flooding has previously occurred and is not revealed by the vendor, then a buyer could bring a claim for damages stemming from an inaccurate response. The purchaser’s solicitors should also commission an enviro report. This should indicate if there is a recorded flood risk. If so, additional investigations will need to be made.
four months have gone by since my purchase conveyancing in West Malling concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How easy is it to transfer to a new firm as I need to appoint one who is on the HSBC Bank conveyancing panel. I was using a high street conveyancing solicitor in West Malling round the corner but the firm is not accepted by HSBC Bank
We will our best to assist in finding you a conveyancing solicitor in West Malling on the HSBC Bank panel. Please note that the law firms that we work with do not pay us commission if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in West Malling. Using search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in West Malling.
Can you provide any top tips for leasehold conveyancing in West Malling with the purpose of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in West Malling can be avoided where you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers. If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to unresolved. If you hold a share in a the Management Company, you should ensure that you have the original share document. Obtaining a new share certificate can be a lengthy formality and delays many a West Malling conveyancing deal. Where a reissued share certificate is required, you should approach the company officers or managing agents (where applicable) for this sooner rather than later. You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. Some West Malling leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
West Malling Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying
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The best form of lease arrangement is if the freehold reversion is in the ownership of the leaseholders. In this scenario the lessees benefit from being in charge if their destiny and notwithstanding that a managing agent is often retained if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. This question is useful as a) areas can cause problems for the building as the communal areas may begin to deteriorate where maintenance are not paid for b) if the leaseholders have an issue with the managing agents you will want to know about it Be sure to find out if there are any onerous prohibitions in the lease. For instance it is very common in West Malling leases that pets are not permitted in certain buildings in West Malling. If you like the apartmentin West Malling however your cat can’t move with you then you will be faced difficult determination.