About to place an offer on a leasehold flat in Midhurst. The selling agents say that it is standard for flats in Midhurst to have less than 75 years unexpired on the lease. I am expecting a loan with Platform. Will the property be mortgageable given that the lease has 69 years to go.
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. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 24/7/2024 the requirements read as follows :
What is the difference between a licensed conveyancer and conveyancing solicitor in Midhurst
Two types of professional can do conveyancing in Midhurst namely licenced conveyancers or solicitors. The two can administer the legal services that you need to complete the disposal or purchase of property. Both are duty bound to carry out Midhurst conveyancing to the same standards and guidelines so you may be sure that your conveyancing will be professionally conducted and that all requisite procedures will be correctly adhered to.
Is there a list of Nationwide panel solicitors in Midhurst on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association websites. Very few lending institutions make their panel listings open the public on the web. If you are seeking to appoint a Midhurst conveyancing practitioner on the Nationwide please make the most of our facility.
About to purchase maisonette in Midhurst. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Midhurst conveyancer is on the Co-operative conveyancing panel.
My colleague advised me that where I am buying in Midhurst I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Midhurst conveyancing searches. It is not a small report of about 40 pages, listing and detailing important information about Midhurst around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Midhurst Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Midhurst Education with maps and statistics, Local Amenities and other useful data concerning Midhurst.
I am buying a new build house in Midhurst with a mortgage from Britannia. The builders would not budge the price so I negotiated 6k of additionals instead. The sale representative told me not disclose to my solicitor about the extras as it may affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Midhurst is the location of the property. Can you offer any opinion?
Flying freeholds in Midhurst are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Midhurst you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Midhurst may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My in 2007. He has got wed, divorced and has recently remarried. He will be marketing the flat this October. I think he will simply be need to supply copies of the marriage certificates to the conveyancer but he is anxious it will frustrate the conveyancing. Should he instruct a lawyer to update the land title information for the property?
It is not absolutely necessary to bring up to date the title for the property as long as you have the evidence needed to show how the name change has come about.
The purchaser’s conveyancing practitioner should review the land registry details and ask for evidence by way of proof of the name change e.g. marriage certificates.