We selected a high street firm for my conveyancing in Sandgate yesterday. Going through the small print I noteI am on the hook for costs even if the movedoes not happen. Would I be best advised to select a web based conveyancing company who offer no completion no charge conveyancing in Sandgate?
Generally there is a concession along the lines that if "No Sale No Fee" is offered then the conveyancing charges will generally be more expensive to offset those cases that do not go ahead. You should be mindful that such deals generally do not protect you from disbursements e.g. Sandgate conveyancing search fees.
Our nephew is about to exchange on a house that has just been built in Sandgate with a home loan from Santander. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Santander conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have decided to exercise my right to buy my property in Sandgate off the council. I have a mortgage offer with Bank of Ireland. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
I have a mortgage with Kent Reliance for my property in Sandgate. Conveyancing was finalised a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Kent Reliance?
Your original mortgage agreement with Kent Reliance will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel solicitor.
I've read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Sandgate solicitor - who is on the Co-operative conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Sandgate postcode. As you are getting a mortgage with Co-operative, you could contact them to see if they have a list of approved surveyors in Sandgate.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Sandgate is where the house is located. Is there any advice you can give?
Flying freeholds in Sandgate are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sandgate you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sandgate 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 residence.
In relation to leasehold conveyancing in Sandgate what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Sandgate. All leases are unique and drafting errors can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
Insurance obligations Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Bank of Scotland, and Nottingham Building Society all have very detailed 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, obliging the purchaser to withdraw.
I acquired a 2 bed flat in Sandgate, conveyancing was carried out 7 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Sandgate with a long lease are worth £260,000. The ground rent is £45 per annum. The lease runs out on 21st October 2093
With only 74 years left to run the likely cost is going to span between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.