We are purchasing a newly built apartment in Rocester and my solicitor is advising me that she has to the lender to disclose incentives from the builder. I am nearing the developer’s deadline to exchange and I have no desire to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
The Rocester conveyancing lawyers that I appointed last week on my house acquisition in Rocester have suddenly shut down. I chose them because I needed a solicitor on the Bank of Ireland conveyancing panel and my preferred Rocester lawyer was not. I sent them a cheque for two hundred pounds in advance. What are my options?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
What is the difference between a licensed conveyancer and conveyancing solicitor in Rocester
There are many registered licenced Conveyancers in Rocester and Solicitor firms in Rocester who can assist with your conveyancing We would stress that both are regulated professionals specialising in the legal aspects of transferring property. They may both also handle associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Does a directory service exist listing Kent Reliance panel conveyancers in Rocester on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings available on the web. If you are seeking to appoint a Rocester lawyer on the Kent Reliance please use our tool.
I have paid off my mortgage with Skipton. I assume I don't need a Rocester solicitor on the Skipton panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Skipton 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 Skipton mortgage from the register. Skipton, 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 Skipton has sent the Land Registry the discharge electronically, and
- Skipton has instructed the Land Registry to do so
Are there restrictive covenants that are commonly identified during conveyancing in Rocester?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Rocester. 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…’
What makes a Rocester lease defective?
There is nothing unique about leasehold conveyancing in Rocester. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
A provision for the recovery of money spent for the benefit of another party. A provision to repair to or maintain elements of the premises
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Leeds Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.
I bought a ground floor flat in Rocester, conveyancing was carried out June 2005. How much will my lease extension cost? Similar flats in Rocester with over 90 years remaining are worth £186,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2071
With 52 years unexpired the likely cost is going to be between £29,500 and £34,000 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.