Do banks and building societies provide you with an approved list of Knighton conveyancing solicitors? How do you know who is on the Kent Reliance conveyancing panel?

Knighton conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.

How does conveyancing in Knighton differ for new build properties?

Most buyers of new build residence in Knighton approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is finished. This is because house builders in Knighton tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Knighton or who has acted in the same development.

Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a simple, chain free conveyancing. Knighton is where the house is located. Can you offer any guidance?

Flying freeholds in Knighton are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Knighton you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Knighton 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.

I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Knighton. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Knighton ?

The majority of houses in Knighton are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Knighton so you should seriously consider looking for a Knighton conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.

I acquired a 1st floor flat in Knighton, conveyancing formalities finalised May 2002. How much will my lease extension cost? Equivalent flats in Knighton with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease finishes on 21st October 2078

You have 54 years left to run the likely cost is going to range between £32,300 and £37,400 as well as costs.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

How and when do I pay stamp duty due for my purchase in Knighton?

The solicitor will complete a stamp duty return for you as part of your Knighton purchase transaction for you to sign. On completion your lawyer will submit the Land Transaction Return Form to the Tax Authorities and - assuming they have the money - settle any Stamp Duty payable on your behalf.