Do lenders provide you with an approved list of Hounslow conveyancing solicitors? How do you know who is on the TSB conveyancing panel?
Hounslow conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
I have 7378 less than 75 years left on my lease and require a lease extension for my apartment in Hounslow. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 1/5/2025 the requirements read as follows :
Have just purchased a probate house at auction in Hounslow. Conveyancing is needed. What happens now?
Now that you are exchanged you must instruct a conveyancing practitioner soon as you are faced with a pending a drop dead date to complete the purchase. Every auction property should have an associated legal set of papers. This should include evidence of title and search results. If you have purchased leasehold property the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You need to pass this on to the conveyancer instructed by you ASAP. You also need to ensure that your finances are organised to complete on the on the contractual date .
We previously appointed conveyancing lawyers located in Hounslow on the Kent Reliance solicitor panel. They are now charging me a further charge for the legal aspects of the Kent Reliance mortgage. Is this a supplemental conveyancing fee set by Kent Reliance?
Provided it is contained in their Terms of Engagement or estimate then yes your solicitor is entitled to charge a fee for this. This charge is not dictated by Kent Reliance but by your Hounslow property lawyer. Some firms on the Kent Reliance panel will levy an ‘acting for lender’ fee and others do not.
The mortgage over my property is with Co-operative for my property in Hounslow. Conveyancing has been completed 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Co-operative?
Co-operative must be informed of your intention before renting your property as this is likely to be a breach of Co-operative’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Co-operative directly. You need not do this via a Co-operative conveyancing panel firm.
I'm buying a new build house in Hounslow with a loan from Santander. The sellers would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent suggested that I not reveal to my solicitor about the side-deal as it could impact my mortgage with Santander. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one round the corner in Hounslow I like with open areas and station nearby, however it only has 49 years unexpired on the lease. There is not much else in Hounslow for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a home loan the shortness of the lease will likely be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you may 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 with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
What advice can you give us when it comes to appointing a Hounslow conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Hounslow conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Hounslow conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
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How experienced is the practice with lease extension legislation? How many lease extensions has the firm conducted in Hounslow in the last year?
I have had difficulty in trying to purchase the freehold in Hounslow. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to calculate the premium.
An example of a Lease Extension decision for a Hounslow property is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case affected 1 flat. The unexpired term as at the valuation date was 60.45 years.