Our conveyancer has identified a defect with the lease for the flat we are buying in Burwash. The other side have offered title insurance as a workaround. We are happy with insurance and will cover the costs. Our property lawyer says that he must ensure that the mortgage company is happy with this solution. Who is the client here, us or the bank?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
Are the Burwash conveyancing solicitors identified as being on the Kent Reliance conveyancing panel, together with their details provided by Kent Reliance?
Burwash 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.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Burwash. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 7/4/2024, the requirements read as follows :
I used Action Conveyancing a few years past for my conveyancing in Burwash. I now require my papers but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Burwash of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Burwash. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
Most houses in Burwash are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Burwash so you should seriously consider shopping around for a Burwash conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer will appraise you on the various issues.
I purchased a 1st floor flat in Burwash, conveyancing was carried out August 2004. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Burwash with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2079
With just 55 years remaining on your lease we estimate the price of your lease extension to span between £31,400 and £36,200 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 a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
My fiance and I are planning to purchase a three bedroom housein Burwash with a mortgage from a lender. We would like to retain our lawyer in Burwash yet our bank says he's not on their "panel". It seems we have little choice but to instruct from the our mortgage company panel firms or stay with our Burwash solicitor and incur the extra costs for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The lender mortgage offered to you is subject to conditions, one of which will be that lawyers will on the bank's conveyancing panel. Until recently, most banks had large numbers of law firms on their panels, including almost all conveyancing solicitors in Burwash : a mortgagee could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for your mortgage company.