Why do I have to pay up front for my conveyancing in Folkestone?

Where you are retaining lawyers for conveyancing in Folkestone your solicitor will request that you place them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. If any down payment is as part of the total price then this will be needed immediately before exchange of contracts. Any further balance that is due will be payable a couple of days prior to the completion date.

This question may be naive but I am new to the house moving as FTB of a garden flat in Folkestone. Do I collect the keys to the house on completion from my lawyer? If this is the case, I will find a High Street conveyancing solicitor in Folkestone?

There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the vendor’s conveyancers, and shortly after the monies have arrived, you should be invited to collect the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.

I can not work out if my mortgage offer requires a lease extension. I have telephoned my Folkestone building society branch on various occasions and was informed it wasn't a problem and they will lend. My Folkestone conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they will not lend in accordance with their published requirements. I have no idea who is right.

As long as the conveyancing practitioner is on the lender approved list, they must comply with the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

Lloyds have agreed my home loan in principle, my offer on a apartment in Folkestone has been agreed to, now what?

The estate agent will wish to be informed of your lawyer's details (make sure the conveyancers are on the bank’s panel). Contact Lloyds or your broker and finalise any outstanding documentation. Lloyds will sellect a valuer who will get in touch with the selling agent or owners to arrange a time for the valuation to take place. Once conducted (assuming no problems) it takes about a fortnight to receive the mortgage offer. Lloyds will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Folkestone.

We're first time buyers - had an offer accepted, but the agent advised that the seller will only go ahead if we appoint the agent's preferred solicitors as they need an ‘expedited deal’. Our preferred option is to instruct a family conveyancer with experience of conveyancing in Folkestone

It is improbable the vendors are behind this. Should the owner require ‘a quick sale', alienating a motivated purchaser is going to damage their objectives. Speak to the vendors direct and explain that (a)you are genuine purchasers (b)you are ready to progress, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)however you are going to instruct your own,trusted Folkestone conveyancing firm - not the ones that will provide their negotiator at the agency a referral fee or hit his conveyancing targets demanded by head office.

What advice can you give us when it comes to appointing a Folkestone conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Folkestone conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with two or three firms including non Folkestone conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be helpful:

Can they put you in touch with clients in Folkestone who can give a testimonial? What are the legal fees for lease extension work?

I invested in buying a 1st floor flat in Folkestone, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Folkestone with a long lease are worth £222,000. The ground rent is £50 per annum. The lease ceases on 21st October 2094

With only 70 years remaining on your lease we estimate the premium for your lease extension to range 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 detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.

Me and my fiance have recently had an offer accepted on a house and had an appointment on Wednesday with Leeds Building Society for the mortgage. They warned us that when it comes to appointing a lawyer that unless they are on their approved panel of conveyancing practitioners then we will be subject to an a further fee of £250+. This is is due to the fact that they will then have to appoint a conveyancer to act on their behalf as well as the one we choose to act on our behalf and we assume responsibility for their fees. I have requested Leeds Building Society to supply me with a list so I can request estimates only from their approved conveyancers but was told they dont have such a list to hand over. Is their an easier way of going about this?

You can enquire of Leeds Building Society what their panel criteria is for a solicitor.Then ask the conveyancing practitioner of your choice whether they fit that criteria and have they acted on loans for Leeds Building Society before. Where the answer to those is yes, then just double check with Leeds Building Society. Another option is to make use of our search facility and we should be able to locate a lawyer in Folkestone on the approved list for Leeds Building Society.