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Reasons to use our Bourne conveyancing solicitors

  • 1 The Bourne conveyancing practitioners that are identified are dedicated to providing value for money, efficient and transparent conveyancing service to home buyers, sellers and remortgagors in Bourne
  • 2 There is a distinct possibility the the lawyers for the other party are located in Bourne - if so sets of solicitors are likely to be familiar
  • 3 Bourne lawyers work in partnership with Bourne estate agents, developers, surveyors, mortgage companies and other professionals to make sure that a quality service is provided to buyers and sellers every step of the way, never losing sight of the time-critical nature behind your conveyancing transaction
  • 4 Notwithstanding what alternative lawyers say it may be necessary to attend your conveyancer to execute legal papers. There are enough parties with an interest in a homemove without having to add the postman into the mix.
  • 5 Our site offers most comprehensive domestic conveyancing directory listing mortgage company approved law firms carrying out conveyancing in Bourne who are regulated by the SRA or CLC.

Examples of recent conveyancing in Bourne since December 2023*

Recently asked questions about conveyancing in Bourne

I have 71 years remaining on my lease and need a lease extension for my flat in Bourne. Conveyancing solicitors on the The Mortgage Works panel can deal with such extensions correct?

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 16/3/2024 the requirements read as follows :

Minimum unexpired lease term is 70 years with 30 years remaining at the end of the mortgage term.
Where the unexpired lease term is different to that recorded on the mortgage offer, the following clarifies if we need to be informed:

Second hand property:
- If the unexpired lease term on the offer is 85 years or more - only advise us if the actual lease term is less than 85 years
- if the unexpired lease term on the offer is less than 85 years – advise us if the actual lease term is different than reported
- For equity share applications - advise us if the actual lease term is different than reported on the offer

New build property:
- If the unexpired lease term stated on the offer is 125 years (flat) / 250 years (house) or more - only advise us if the actual lease term is less than 125 years (flat) / 250 years (house)
- For equity share applications - always advise us if the actual lease term is different than reported on the offer

Lease terms such as ground rent and event fees must be reasonable at all times during the term of the lease and adhere to our requirements below. If you’re unsure as to whether the terms of a lease are unreasonable or onerous, please refer the details to us in plain English for Valuer consideration. If the potentially onerous terms are in relation to the ground rent please include the current ground rent figure per annum, how often it will be reviewed and the price structure it will be reviewed against. See the guidance below.

SECOND HAND PROPERTIES

Unacceptable - advise Issuing Office (Will be declined):
- Unexpired lease term less than 70 years
- Less than 30 years remaining at the end of the mortgage term
- Ground Rent greater than 0.5% of the property value
- Ground Rent doubles less than every 20 years (e.g. doubles every 5, 10 or 15 years) - acceptable if doubles every 20 years or more
- Ground Rent is compounded RPI
- Ground Rent review period less than or equal to 5 years

Refer to Issuing Office (Valuer will consider any impact on valuation figure and marketability):
- Unexpired lease term is 70 to 85 years
- Ground Rent greater than 0.1% and less than or equal to 0.5% of the property value
- Ground Rent escalation is linked to any indices greater than RPI
- Ground Rent escalation is linked to the value of the building*
- Ground Rent review period is greater than 5 and less than 10 years
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges greater than £500 p/a (please provide details of what the charges cover)
- Service Charges greater than 1.0% of property value p/a (please provide details of what the charges cover)
- Anything that appears onerous, unusual or out of the ordinary

Acceptable (no requirement to advise Issuing Office):
- Unexpired lease term greater than 85 years
- Ground Rent less than or equal to 0.1% of the property value
- Ground Rent review period greater than or equal to 10 years
- Ground Rent escalation less than or equal to RPI

NEW BUILD PROPERTIES (includes office conversions)

Unacceptable - advise Issuing Office (will be declined):
- Unexpired lease term less than 125 years on a new build flat or less than 250 years on a new build house
- Any lease which is subject to a ground rent (or annual rent) being charged which is more than on a peppercorn basis
- Any lease which is subject to a ground rent (or annual rent) being reviewed and altered on any review basis or methodology

Refer to Issuing Office (Valuer will consider any impact on valuation figure and marketability):
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges greater than £500 p/a (please provide details of what the charges cover)
- Service Charges greater than 1.0% of property value p/a (please provide details of what the charges cover)
- Anything else appears onerous, unusual or out of the ordinary

Acceptable (no requirement to advise Issuing Office):
- Unexpired lease term greater than or equal to 125 years on a new build flat or greater than or equal to 250 years on a new build house
- A lease subject to a peppercorn ground rent (annual rent) charges

For the avoidance of doubt, any new build properties completed but not sold pre 30 June 2022 will only be acceptable if the lease conforms to the above guidance

* Where the Ground Rent escalation is linked to the value of the building, please provide the following:
- How is the value of the block/unit currently calculated and if the assessment relates to the block(s), how is the Ground Rent calculated/apportioned per property?
- The current valuation and Ground Rent for each unit
- What is the mechanism for future valuations of the block and how is the Ground Rent calculated/apportioned?
- What is the right of appeal? And is this a documented process within the lease?
- Who bears the cost of the valuation (and appeal) process?
- Confirmation the review period is not less than twenty years

LEASE EXTENSIONS

We require all lease extensions to be completed under the Leasehold Reform Housing and Urban Development Act 1993 and to meet the above criteria as a minimum. Where you become aware that it does not meet these requirements, please refer to the Issuing Office

I have a mortgage with Nottingham for my property in Bourne. Conveyancing was finalised months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nottingham?

Nottingham must be informed of your intention before letting out your property as this is likely to be a breach of Nottingham’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Nottingham directly. You need not do this via a Nottingham conveyancing panel lawyer.

Nationwide have agreed my mortgage in principle, my bid on a flat in Bourne has been accepted, now what?

Your estate agent will wish to be advised as to your solicitor's details (be sure the conveyancers are on the lender’s approved list). Call up Nationwide or the broker and complete any outstanding documentation. Nationwide will sellect a valuer who will get in touch with the selling agent or owners to book an appointment. Once carried out (assuming no problems) it takes approximately a fortnight to get a mortgage offer. Nationwide will send 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 Bourne.

I have finally had an offer on an apartment in Bourne accepted, but there is a chain. The sellers have put an offer on a flat, however it’s not yet agreed to, and have viewings of other flats in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Bourne. What do I do now? When should I get the mortgage application with Barclays started?

It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then valuation, Bourne conveyancing search fees, etc). First, you should ensure that your conveyancing practitioner is on the Barclays conveyancing panel. Regarding the subsequent phase this very much dictated by the specifics of your transaction, attraction to the property and on the state of the market. During a buoyant market some purchasers will apply for the mortgage with Barclays and pay for the valuation and only if it was satisfactory would they pay their lawyer to press on with the conveyancing in Bourne.

I have been told that property searches are the main cause of hinderance in Bourne conveyancing transactions. Is that correct?

The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Bourne.

The deeds to my property can not be found. The solicitors who handled the conveyancing in Bourne 5 years ago have long since closed. What are my next steps?

Assuming you have a registered title the details of your ownership will be evidenced by HMLR with a Title Number. It is possible to perform a search at the Land Registry, locate your property and secure up to date copies of the property title for a small fee. Where the title is Leasehold then the Land Registry will in most cases hold a file duplicate of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.

How does conveyancing in Bourne differ for new build properties?

Most buyers of new build premises in Bourne come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because developers in Bourne 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 conveyancing solicitors 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 Bourne or who has acted in the same development.

I am a negotiator for a reputable estate agent office in Bourne where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Bourne conveyancing solicitors. Please can you confirm whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

I bought a 1st floor flat in Bourne, conveyancing having been completed in 2001. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Bourne with over 90 years remaining are worth £176,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ends on 21st October 2074

You have 50 years left to run the likely cost is going to range between £31,400 and £36,200 plus costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.

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Commercial Conveyancing solicitors in Bourne regulated by the SRA

The list below is a non-comprehensive list of solicitors in Bourne with expertise in commercial conveyancing in Bourne. This may include advice on buying and selling small and large scale commercial property and agricultural land
  • Duncan A Pickering, 4 Southfields, Bourne, Lincolnshire, PE10 9TZ

Residential Licensed Conveyancers in Bourne regulated by the CLC

Please be aware that the listed conveyancers do not limit their work for conveyancing in Bourne but also conveyancing across England and Wales.
  • Suremove Property Lawyers Limited, 11 North Street, PE10 9AF

Transfer of Equity conveyancing in Bourne is a complex business, both legally and administratively. The exact order of events varies slightly, below are some of the tasks in the process:

  • Taking instructions from the appropriate parties
  • Investigating the title to the property
  • Representing mortgage company (where relevant)
  • Agreeing the terms of the transaction
  • Preparing the Transfer or approving the Transfer deed
  • Negotiating amendments to the draft Transfer
  • Communicating with parties with regards to the Transfer
  • Agreeing and preparing for completion
  • Receiving and transferring funds to relevant parties
  • Preparing and submitting to HMRC the appropriate SDLT forms and payment
  • Registering the change in proprietorship and the home loan (if applicable) at the HMLR.

Neighboring Locations

Bourne
Stamford
Ryhall
Werrington
Market Deeping

*Source acknowledgement: House price data produced by Land Registry as well data supplied by Lexsure Ltd.

© Crown copyright material is reproduced with the permission of Land Registry under delegated authority from the Controller of HMSO.