My partner and I are looking to purchase a home in Eastbourne and have appointed a Eastbourne conveyancing practice. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Coventry Building Society have this afternoon contacted us to inform me that they have now hit a problem as our Eastbourne lawyer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Eastbourne lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We are a couple about to exchange contracts for a property in Eastbourne. We encountered a snag. The mortgage offer with Bank of Ireland expires on 28/9/2026 but the owners are putting forward a completion date of 30/9/2026. Is it possible to prolong the mortgage offer?
The person best placed to deal with your concern is your solicitors who should determine if he or she is better off negotiating with the mortgage broker, vendor’s representatives, estate agents or possibly all three based on the history of your transaction as of today.
Is it the case that all Eastbourne CQS (Conveyancing Quality Scheme) solicitors are on the HSBC conveyancing panel?
It is true that some banks and building societies now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
Does a directory service exist listing Bank of Ireland panel solicitors in Eastbourne on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association websites. A small selection of banks make their panel listings viewable online. If you are in need of a Eastbourne property lawyer on the Bank of Ireland please use our facility.
Having digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Eastbourne solicitor - who is on the TSB conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Eastbourne postcode. As you are getting a mortgage with TSB, you could contact them to see if they have a list of approved surveyors in Eastbourne.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Eastbourne is where the house is located. What do you suggest?
Flying freeholds in Eastbourne are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Eastbourne you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Eastbourne may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My husband and I are first time buyers - agreed a price, yet the selling agent has warned us that the vendor will only issue a contract if we appoint their recommended solicitors as they want an ‘expedited deal’. We would rather use a high street solicitor who is familiar with conveyancing in Eastbourne
We suspect that the owner is not behind this demand. Should the vendor want ‘a quick sale', turning down a serious purchaser is going to damage their objectives. Try to communicate with the vendors directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you are going to use your own,trusted Eastbourne conveyancing firm - not the ones that will earn the negotiator at the agency a introducer fee or achieve conveyancing figures set by corporate headquarters.
What are the frequently found deficiencies that you come across in leases for Eastbourne properties?
There is nothing unique about leasehold conveyancing in Eastbourne. Most leases are drafted differently and legal mistakes in the legal wording can result in certain provisions are wrong. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts. Repairing obligations to or maintain elements of the property
You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Chelsea Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.
I own a ground floor flat in Eastbourne, conveyancing formalities finalised 9 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Eastbourne with an extended lease are worth £191,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2080
With only 54 years unexpired the likely cost is going to range between £32,300 and £37,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should 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.