Me and my partner are planning to buy a 2 bedroom apartment in Hawkhurst with a mortgage. We wish to retain our Hawkhurst solicitor, however the lender says she’s not on their "panel". We have to appoint one of the mortgage company panel firms or keep our Hawkhurst conveyancer and pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Hawkhurst conveyancing lawyer to apply to be on the conveyancing panel.
Do banks and building societies provide you with an approved list of Hawkhurst conveyancing solicitors? How do you know who is on the Co-operative conveyancing panel?
Hawkhurst conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, no chain conveyancing. Hawkhurst is where the house is located. Is there any guidance you can impart?
Flying freeholds in Hawkhurst are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hawkhurst you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hawkhurst may decide 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 property.
When it comes to leasehold conveyancing in Hawkhurst what are the most common lease defects?
Leasehold conveyancing in Hawkhurst is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:
A provision to repair to or maintain parts of the building Insurance obligations
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Coventry Building Society, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.
I purchased a ground floor flat in Hawkhurst, conveyancing formalities finalised 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Hawkhurst with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 yearly. The lease ceases on 21st October 2073
With only 55 years remaining on your lease the likely cost is going to be between £31,400 and £36,200 plus professional fees.
The suggested premium range 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 are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
When it comes to my conveyancing in Hawkhurst should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Hawkhurst conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancer's time in submitting the funds this way.