I plan on buying a flat in Leyland. My Conveyancer is not listed on the bank conveyancing list. Am I still permitted to continue with my Leyland conveyancing solicitor even though they are not on the lender list of approved lawyers?
One must instruct a conveyancing practitioner to complete the formalities when you take out a loan to purchase your property. The solicitor will carry out all the relevant legal checks on the property, ensuring that you will be registered as proprietor and ensure that all the required mortgage documentation is dealt with. One can appoint a Leyland lawyer of your choice. However, if the conveyancing practitioner appointed is not a member of the lender approved list supplemental costs will be levied as separate legal representation will be need by the mortgage company. Conveyancing panel applications can be submitted, so if your solicitor has not previously sought membership they should do so.
My home in Leyland is up for sale and I have a buyer. Will my solicitor need to be required to be on the Santander conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Santander conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
What does a local search inform me concerning the property my wife and I purchasing in Leyland?
Leyland conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company such as Xpress Legal The local search plays a central part in most Leyland conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your property. The search should supply information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
I decided to have a survey completed on a house in Leyland in advance of instructing conveyancers. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some banks may not grant a mortgage on such a premises.
It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. If you contact us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Leyland. Conveyancing will be smoother if you use a solicitor in Leyland especially if they are familiar with such properties in Leyland.
I need to find a conveyancing solicitor for my conveyancing in Leyland. I have stumble across a site which appears to be the perfect answer If it is possible to get all this stuff done via email that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am tempted by the attractive purchase price for a two apartments in Leyland which have about forty five years remaining on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Leyland. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the marketability of the lease decreases and it becomes more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this area.
I acquired a ground floor flat in Leyland, conveyancing was carried out in 1999. How much will my lease extension cost? Corresponding flats in Leyland with over 90 years remaining are worth £191,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2079
With 53 years left to run we estimate the premium for your lease extension to span between £27,600 and £31,800 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.