We were just about to sign contracts for a property in West Malling. We have hit a snag. Our mortgage offer with Birmingham Midshires runs out on 16/9/2019 but the vendors are putting forward a completion date of 18/9/2019. Is it possible to extend the loan offer?
The best person to deal with your issue is your lawyer who will hopefully assess whether he or she is better off negotiating with the mortgage company, seller’s representatives, estate agents or conceivably all parties based on what has gone on in your conveyancing as of today.
This question may be naive but I am unexperienced as FTB of a garden flat in West Malling. Do I pick up the keys to the premises on the completion date from my solicitor? If this is the case, I will find a local conveyancing solicitor in West Malling?
On the day of completion you will not be required to go to the conveyancers office in West Malling. Your solicitors will transfer the purchase money to the owner’s solicitors, and once they have received this, you will be invited to receive the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.
When it comes to lenders such as Lloyds, do West Malling conveyancing practitioners face a fee to be on the conveyancing panel?
We are not aware of any bank fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I have instructed a West Malling conveyancer having checked that they are on the Nationwide conveyancing panel. Does my lawyer arrange the survey of the property?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide 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 property 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 West Malling postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in West Malling.
The estate agent has sent us the confirmation of our purchase of a new build apartment in West Malling. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in West Malling
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants.
I have been on the look out for a leasehold apartment up to £235,500 and identified one round the corner in West Malling I like with amenity areas and railway links nearby, however it only has 61 years on the lease. There is not much else in West Malling in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage the shortness of the lease may be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
If all goes to plan we aim to complete the sale of our £150,000 flat in West Malling next week. The freeholder has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in West Malling?
West Malling conveyancing on leasehold maisonettes usually requires the buyer’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to assist. They are at liberty to charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee demanded by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality you have little option but to pay whatever is demanded should you wish to sell the property.
West Malling Leasehold Conveyancing - Sample of Queries Prior to buying
How many years are left on the lease? Who is in charge of the building? Most West Malling leasehold flats will be liable to pay a service bill for maintenance of the building invoiced by the management company. Where you acquire the flat you will have to meet this amount, normally in instalments throughout the year. This could be anything from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent to be met yearly, this is usually not a significant sum, say around £50-£100 but you need to enquire it because on occasion it could be prohibitively expensive.