I am obtaining a mortgage offer from Santander. My intention is to instruct a Licensed Conveyancer in Crawley Down. Does the Santander Conveyancing panel allow for Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I am purchasing a garden flat in Crawley Down. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Crawley Down you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Crawley Down.
2 months have elapsed following my purchase conveyancing in Crawley Down completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one near me in Crawley Down I like with amenity areas and transport links in the vicinity, however it only has 52 remaining years left on the lease. There is not much else in Crawley Down for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage the shortness of the lease will be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
Having had my offer accepted I require leasehold conveyancing in Crawley Down. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Crawley Down - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I acquired a 1 bedroom flat in Crawley Down, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Crawley Down with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £45 levied per year. The lease comes to an end on 21st October 2100
With just 74 years unexpired the likely cost is going to range between £8,600 and £9,800 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
I am about to complete buying a property in Crawley Down but as a result of wreckage from the recent storms I have negotiated reparation from the current proprietors of £2k taking the form of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process however the mortgage company will not agree to this. Why were they approached?
Your solicitor listed on the bank approved list is duty bound to inform the lender of any variations to the purchase amount. If you were to refuse your property lawyer to disclose the price change to your bank then they would have to disinstructing themselves from representing you and the bank.