Finally, a mortgage agreement from HSBC for the remortgage of my single bedroom garden flat is due imminently. Are you able to suggest a low cost conveyancing law firm in Lewes?
You have come to the wrong place to search for a cheap conveyancing in Lewes. Our aim is to provide cost effective conveyancing but we do not aim to advertise as being the cheapest. Avoid the trap of appointing companies offering the bait of ninety nine pound conveyancing in Lewes. The optimum outcome, in being led by cheap conveyancing, you will get your money’s worth and at worst you will end up being stung for additional fees and still not receive the service required.
I have just over seventy years remaining on my lease and require a lease extension for my apartment in Lewes. Conveyancing solicitors on the Chelsea Building Society 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. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 18/1/2023 the requirements read as follows :
Forgive me if this question is silly but I am unseasoned as FTB of a two bedroom flat in Lewes. Do I collect the keys to the house on completion from my lawyer? If this is the case, I will appoint a local conveyancing solicitor in Lewes?
On the day of completion you do not need to go to the conveyancers office in Lewes. Conveyancing lawyers for you will arrange to send the completion advance to the seller's lawyers, and once they have received this, you should be called to pick up the keys from the Estate Agents and start moving into the property. Usually this happens early afternoon.
We had chosen solicitors with offices in Lewes on the Nottingham solicitor panel. They have just billed me a supplemental fee for handling the Nottingham mortgage. Is this an additional conveyancing fee set by Nottingham?
Provided it is contained in their Terms and Conditions or estimate then yes your lawyer is entitled to charge a fee for this. The fee is not set by Nottingham but by your Lewes lawyer. Numerous firms on the Nottingham panel will quote an ‘acting for lender’ fee and others do not.
It is not clear whether my lender requires a lease extension. I have called my Lewes building society branch on numerous occasions and was told they are content with the situation and they will lend. My Lewes conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. I simply don't know who is right.
As long as the lawyer is on the bank panel, she or he must adhere to the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am buying a new build house in Lewes with a loan from The Mortgage Works. The sellers would not reduce the price so I negotiated £7000 of extras instead. The sale representative advised me not reveal to my conveyancer about the deal as it would impact my mortgage with The Mortgage Works. Is this normal?.
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.
I am looking for a flat up to £195,000 and found one close by in Lewes I like with open areas and station nearby, the downside is that it only has 61 years on the lease. There is not much else in Lewes for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the shortness of the lease will likely be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
I was recommended by numerous estate agents in Lewes to select a property lawyer on your site. Is there a financial upside for Estate Agents to promote your services over alternative conveyancing organisations?
We refuse to make any commission for pointing buyers and sellers our way. We found it would be just too difficult to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.