I plan on purchasing property in Crowborough. My Solicitor is not listed on the mortgage company solicitor panel. Am I still permitted to retain my Crowborough conveyancing solicitor notwithstanding that they are excluded from the mortgage company list of approved lawyers?
You have a couple of choices open to you here
- Proceed with your preferred Crowborough lawyer but your mortgage company will no doubt appoint a conveyancer on their conveyancing panel. The net result is additional charges together with likely frustration.
- Get a new property lawyer to act in the purchase, ensuring that they are on the lender conveyancing panel.
- Appeal to your conveyancer to apply to join the bank panel
Some advice if I may. My Crowborough solicitor is advising me that he is legally obliged toconduct Crowborough conveyancing searches resulting from the fact thatthe firm are on the Santandersolicitor panel. Is my solicitor right?
You have limited options available to you. As you are obtaining a home loan with a lender your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Crowborough conveyancing searches.
I have 7378 less than 75 years remaining on my lease and need a lease extension for my flat in Crowborough. Conveyancing solicitors on the Bank of Ireland panel can deal with such extensions right?
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. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 1/3/2021 the requirements read as follows :
I decided to have a survey completed on a property in Crowborough in advance of instructing conveyancers. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some banks tend not issue a loan on such a house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Crowborough. Conveyancing will be smoother if you use a solicitor in Crowborough especially if they are acquainted with such properties in Crowborough.
Is it best to choose a Crowborough conveyancing practitioner in close proximity to the house I am purchasing? An old friend can execute the legal work however they are based 300miles away.
The primary upside of using a local Crowborough conveyancing practice is that you can drop in to execute documents, deliver your ID and apply pressure on them if necessary. They will also have local knowledge which is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and they were content that should outweigh using an unfamiliar Crowborough conveyancing lawyer solely due to them being based in the area.
I am on look out for some leasehold conveyancing in Crowborough. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Crowborough - 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 bought a 1 bedroom flat in Crowborough, conveyancing was carried out 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Crowborough with over 90 years remaining are worth £180,000. The ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2079
With only 58 years unexpired the likely cost is going to range between £22,800 and £26,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.