When it comes to mortgage companies such as Barclays, do Farnborough property lawyers have to pay an annual charge to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
Two weeks ago we had a mortgage agreed in principle with RBS. Farnborough conveyancing solicitors have been selected. What is the average time that one could expect to receive a mortgage offer from RBS?
Some lenders take longer than others. Have RBS conducted the valuation? Have you informed RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I'm at the point of looking at flats in Farnborough and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a home loan with Bank of Ireland.
It would be sensible to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. Given that you are obtaining a mortgage with Bank of Ireland, ask your prospective lawyers if they are on the Bank of Ireland conveyancing panel otherwise they can't do the mortgage legal work.
We are purchasing a house and the solicitor has raised the issue of Chancel Repair for which the house may be obligated to contribute to because it falls into the area of such a church. He has suggested insurance. Is this strictly warranted for conveyancing in Farnborough
Unless a previous acquisition of the premises took place post 12 October 2013 you could assume that conveyancing practitioners delivering conveyancing in Farnborough to remain encouraging a chancel search and or insurance against a claim.
I used Stirling Law a few years ago for my conveyancing in Farnborough. I now require my papers but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Farnborough of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
About to purchase a new build apartment in Farnborough. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Farnborough
-
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Due to the encouragement of my in-laws I had a survey completed on a house in Farnborough in advance of retaining lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some banks may not issue a loan on such a home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. If you contact us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Farnborough. Conveyancing may be slightly more expensive based on your lender's requirements.
I only have Seventy years left on my lease in Farnborough. I now want to extend my lease but my freeholder is missing. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to find the freeholder. For most situations a specialist may be helpful to try and locate and prepare a report which can be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court covering Farnborough.
I purchased a studio flat in Farnborough, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Equivalent properties in Farnborough with a long lease are worth £171,000. The ground rent is £50 invoiced annually. The lease runs out on 21st October 2101
With only 79 years remaining on your lease we estimate the price of your lease extension to be between £7,600 and £8,800 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.