Why do I have to pay up front when it comes to conveyancing in Chislehurst?
Where you are retaining lawyers for conveyancing in Chislehurst your solicitor will request that you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the total price then this should be needed immediately prior to exchange of contracts. Any further balance that is due should be sent to your lawyer shortly before completion.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Chislehurst?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Chislehurst. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm purchasing a new build house in Chislehurst with a loan from Godiva Mortgages Ltd. The builders would not move on the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not reveal to my conveyancer about the side-deal as it would put at risk my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've found a house that appears to be perfect, at a great price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Chislehurst. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
The majority of houses in Chislehurst are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. It is clear that you are buying in Chislehurst in which case you should be looking for a Chislehurst conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.
I am the leaseholder of a garden flat in Chislehurst. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
if there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to decide the premium.
An example of a Lease Extension matter before the tribunal for a Chislehurst property is 70 Andace Park Gardens 133-149 Widmore Road in November 2013. Tribunal determined that the premium payable for the lease extension was £10,052 This case affected 1 flat. The unexpired term was 72 years.
My solicitors in Chislehurst have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with the mortgage company. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.