Me and my partner are buying a 1 bedroom flat in Eastleigh with a mortgage. We like our Eastleigh conveyancer, however the bank advise he's not on their "panel". It appears that we have little option but to select one of the mortgage company panel firms or keep our Eastleigh solicitor and pay for one of their panel lawyers to act for them. This seems very unfair; are we not able to demand that the bank use our Eastleigh property lawyer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower 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. Another option that might be available is for your Eastleigh conveyancing lawyer to apply to be on the conveyancing panel.
If you had a top tip for choosing a conveyancing solicitor in Eastleigh what would it be?
It would be unwise to be swayed by the lowest Eastleigh conveyancing costs illustration. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Eastleigh?
There are many registered licenced Conveyancers in Eastleigh and Solicitor practices in Eastleigh who provide Conveyancing services We would stress that the two are regulated professionals specialising in the legal work in transferring property. Both can conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I am the sole recipient of my late grandmother’s estate with all property in now in my sole name, including the my former home in Eastleigh. The Eastleigh property was put into my name in November. I plan to dispose of the property. I do know about the CML 6 month 'rule', which means that my property ownership could be considered the same way as if I'd bought the property in November. Do I have to wait 6 months to sell?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. How practical a view banks take of it, depend on the mortgage company as this requirement is principally there to identify the purchase and immediately sell or the flipping of properties.
I decided to have a survey done on a house in Eastleigh ahead of instructing conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some lenders will refuse to grant a loan on this type of property.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Eastleigh. Conveyancing will be smoother if you use a solicitor in Eastleigh especially if they are familiar with such properties in Eastleigh.
How do I use the search tool to select a conveyancing practitioner in Eastleigh on the panel for my mortgage?
First choose a lender such as Barclays , Coventry Building Society or Britannia then specify your location a common one being Eastleigh. Conveyancing practices in Eastleigh and further afield will then be shown.
I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Eastleigh. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Eastleigh ?
The majority of houses in Eastleigh are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. We note that you are buying in Eastleigh in which case you should be shopping around for a Eastleigh conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.
I own a basement flat in Eastleigh, conveyancing having been completed in 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Eastleigh with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ends on 21st October 2081
With 56 years unexpired the likely cost is going to be between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. 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 move forward based on this information before seeking the advice of a professional.
New build sellers have suggested I use a conveyancer and I've received a quote from them. They are almost two hundred pounds cheaper than my local Eastleigh conveyancing practitioner. What's the catch?
Builders often have panels of lawyers who are quick and who know the builder's paperwork and conveyancing practitioner. Plenty of developers offer an incentive to choose a preferred conveyancing practitioner for this reason, any increased fees can be avoided and a developer won't put forward a conveyancing factory and run the risk of having the conveyancing delayed when they demand an exchange within a tight time frame. A counter-argument for not agreeing to use the suggested conveyancing practitioner is that they may be unwilling to 'push' your interests at the risk of upsetting the sellers. If you worry that this may be the case you should stick with your high street Eastleigh conveyancing practitioner.