Find a Lender-Approved Local Conveyancer in Colsterworth

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Cheap conveyancing in Colsterworth does not necessarily mean low quality - but the odds are stacked against you

Reasons to use our Colsterworth conveyancing solicitors

  • 1 Colsterworth solicitors have a crucial edge when it comes to Colsterworth conveyancing as they have important local knowledge of local authority requirements, planning policies and other issues that can affect your conveyancing
  • 2 You can rest easier when select the very best, most recommended conveyancing solicitors. Colsterworth has a number to pick from, but for a truly dependable and reliable service many local people have been use the recommendation of this site.
  • 3 The practices listed on our web pages have a mix of conveyancing practitioners, legal executives and support staff handling thousands of conveyancing matters each year.
  • 4 Experience means that Colsterworth conveyancer have developed excellent working relationships with Colsterworth local estate agents, banks, building societies, landlords and property developers enabling them to liaise at speed with all concerned in the process of dealing with your home move in Colsterworth.
  • 5 On the balance of probabilities the other side’s conveyancers are located in Colsterworth - if so both parties are likely to be familiar

Examples of recent conveyancing in Colsterworth since December 2023*

Recently asked questions about conveyancing in Colsterworth

I am need of leasehold conveyancing for a flat in a fairly new development (seven years built) in Colsterworth. Almost all the properties have already been sold. Do I need carry out the neighbourhood searches as part of conveyancing in Colsterworth?

Conveyancing Searches are a vital link in the Colsterworth conveyancing process. There are a large number of companies conducting Colsterworth conveyancing searches, as well straight from the local authority. These are known collectively as personal search companies due to them carrying out, personal searches. Nevertheless, all Local Authority Search conveyancing products have one thing in common - they must secure their information from the local authoritative source.

I have 70 years left on my lease and need a lease extension for my apartment in Colsterworth. Conveyancing solicitors on the Nationwide Building Society panel can deal with such extensions right?

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 15/3/2024 the requirements read as follows :

- Our minimum unexpired lease term is 55 years, except where lending is over 85% of the purchase price/valuation on a second hand flat, in which case our minimum unexpired term is 90 years.
- There must be at least 30 years remaining at the end of the mortgage term (regardless of the length of lease at the start).

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
- Where lending is over 85% of the purchase price/valuation on a second hand flat and the unexpired lease term on the offer is 90 years or more - only advise us if the actual lease term is less than 90 years.

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 55 years
- Unexpired lease term less than 90 years where we are lending more than 85% of the purchase price/valuation on a second hand flat
- 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 is 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 55 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% 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 (Minimum 90 years where we are lending more than 85% of the purchase price/valuation on a second hand flat)
- 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 (does not apply to Shared Ownership)
- 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 charged which is more than on a peppercorn basis

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% 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 Issuing Office.

A colleague suggested that if I am buying in Colsterworth I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?

A search of this type is usually quoted for as part of the standard Colsterworth conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Colsterworth around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Colsterworth Education with plans and statistics, Local Amenities and other useful data concerning Colsterworth.

I have todaybeen informed that Stirling Law have closed. They carried out my conveyancing in Colsterworth for a purchase of a leasehold apartment 18 months ago. How can I establish that the property is registered correctly in the name of the previous owner?

The quickest method to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Colsterworth conveyancing specialists.

Am I right to be concerned by third parties that I am dealing with are suggesting a web based conveyancing firm as opposed to a High Street Colsterworth conveyancing firm?

As with lots of service providers, often suggestions from family and friends can be worth their weight in gold. Yet there are lots of players in a conveyancing transaction; estate agents, financial adviser and banks may put forward solicitors to retain. Sometimes these solicitors might be known to one of the organisations as being good in their field, but sometimes there exists a financial incentive behind the recommendation. You are at liberty to choose your preferred conveyancer. Don't forget that some banks have an approved list of conveyancers you must use for the mortgage aspect of your house move.

I am looking for a conveyancing practitioner in Colsterworth for my house move. Is it possible to check a solicitor's complaints history with the profession’s regulator?

Members of the public may review published Solicitor Regulator Association (SRA) decisions stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. For records Pre 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, dial +44 (0)121 329 6800. The regulator could monitor call for training requirements.

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What to expect from a Licensed Conveyancer for conveyancing in Colsterworth?

Licensed Conveyancers assist with the transfer of the legal title of a property from one person to another and cover conveyancing nationwide not just Colsterworth. If instructing a Licensed Conveyancer regulated by the CLC, you should:
  • Enjoy the benefit of an honest and lawful service.
  • Be supplied with a high standard of legal services.
  • Enjoy the benefit of your transaction dealt with using care, skill and diligence.
  • Have a high quality of service due to your conveyancer’s arrangements, resources, procedures, skills and commitment.
  • Enjoy the benefit of a service which is accessible and responsive to your specific requirements.
  • Not feel discriminated against, victimised or harassed.
  • Not receive a service which is below the level you could expect, however, if you do your lawyer accepts responsibility for this and provides you with any appropriate redress.
  • Have your specific needs taken into account should you make a complaint.
  • Enjoy the benefit of a speedy, objective and comprehensive service if if a complaint is registered about your conveyancing in Colsterworth.

Domestic in Colsterworth is a complex business, both legally and administratively. The exact order of events varies slightly, below are some of the tasks in the process.

  • Property lawyer instructed by the purchaser on acceptance of the offer
  • Investigating the title to the premises
  • Undertaking Colsterworth conveyancing searches with respect to the property
  • Assessing draft contract pack and other papers collated by the seller’s solicitor
  • Submitting enquiries with the seller’s solicitor
  • Negotiating the sale contract
  • Assessing replies given by the owner to pre-exchange enquiries
  • Negotiating the Transfer document
  • Guiding the purchasing in respect of the loan offer: (where applicable)
  • Preparing and sending the buyer a report on title (that is; reporting to the buyer on the contents of the contract pack, preliminary enquiries and the result of the searches)
  • Proceeding to exchange of contracts and then completion of the purchase
  • Completing and submitting to HM Revenue and Customs the correct SDLT forms and payment
  • Dealing with the registration formalities for the new ownership and the mortgage (if relevant) at the HM Land Registry.

Transfer of Equity conveyancing in Colsterworth 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 draft Transfer
  • Agreeing adjustments to the draft Transfer
  • Corresponding with parties with regards to the Transfer
  • Agreeing and preparing for completion
  • Receiving and transferring monies to relevant parties
  • Preparing and submitting to HM Revenue and Customs the correct SDLT forms and payment
  • Registering the buyer and the home loan (if appropriate) at the Land Registry.

*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.