Do I find a Licenced Conveyancer or Solicitor for conveyancing in Margate?
Two types of professional can do conveyancing in Margate namely CLC regulated conveyancers or solicitors. Both professionals provide the legal services that required to complete the disposal or purchase of property. Both are required to carry out Margate conveyancing on similar standards and guidelines so you can be sure that your conveyancing will be properly administered and that all necessary procedures should be correctly followed.
I have paid off my mortgage with Virgin Money. I assume I don't need a Margate conveyancing practitioner on the Virgin Money panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
The formalities of my purchase has taken place for my property in Margate. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
How does conveyancing in Margate differ for newly converted properties?
Most buyers of new build or newly converted property in Margate contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is constructed. This is because builders in Margate tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Margate or who has acted in the same development.
I have been on the look out for a flat up to £195,000 and found one near me in Margate I like with open areas and station nearby, however it only has 49 years unexpired on the lease. I can't really find anything else in Margate suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
As co-executor for the will of my father I am disposing of a residence in Swansea but reside in Margate. My solicitor (approximately 235 miles awayhas requested that I execute a stat dec prior to the transaction finalising. Could you suggest a conveyancing solicitor in Margate who can witness and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are located in Margate
I've recently bought a leasehold property in Margate. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Margate - Examples of Queries before buying
This question is important as a) areas could result in problems in the building as the common areas may begin to deteriorate where repairs remain unpaid b) if the tenants have a dispute with the managing agents you will want to have full disclosure It is important to be aware whether window replacement or some other significant cost is anticipated to be shared between the leaseholders and could well materially increase the the service fees or require a one off payment. Can you tell me if there are any major works in the planning that could increase the service costs?