I am considering applying for a Aldermore mortgage for purchase of a new build (under development) in Sevenoaks with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Aldermore ?
There is nothing to stop you using your solicitor, but Aldermore will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I'm refinancing my current home to a BTL mortgage with Barclays and intend to use the remaining equity as a down payment on a second property. The location we are interested in is Sevenoaks. Will your solicitors be able to act for both sets of lenders and link together the two deals?
Make use of our search tool on this page to check that the lawyers are on the relevant lender panels. On the basis that they are your lawyer should be able to tie up the two transactions but you should have a chat with you lawyer and make apparent your expectations and needs.
I am using a search engine for the term conveyancing in Sevenoaks it brings up many solicitorslocally. How do I determine which is the right property lawyer for purchase transaction?
The ideal way of choosing the right conveyancer is via personal referral, so enquire of colleagues and family who have acquired a property in Sevenoaks or the local estate agent or financial adviser. Costs for conveyancing in Sevenoaks differ, so it's advisable to request at least three estimates from varying types of conveyancers. Dont forget to clarify what costs in the quote includes.
I've found a house that seems to be perfect, at a great figure which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Sevenoaks. Conveyancing advisers have not yet been instructed. Will they explain the issues?
Most houses in Sevenoaks are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Sevenoaks so you should seriously consider looking for a Sevenoaks conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.
I purchased a 1 bedroom flat in Sevenoaks, conveyancing was carried out July 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Sevenoaks with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ends on 21st October 2090
With only 71 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
My solicitor in Sevenoaks has requested from me proof of ID documents stating that this forms part of his legal duty as a solicitor on the bank Solicitor panel. Can this be correct?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the lender. This is not specific to conveyancing in Sevenoaks