My husband and I are intending to buy a 2 bedroom flat in Seaton with a mortgage. We wish to retain our Seaton lawyer, but the mortgage company advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Seaton solicitor and pay for one of their panel ones to act for them. This feels very unfair; are we not able to demand that the mortgage company use our Seaton property lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Seaton conveyancing solicitor to apply to be on the conveyancing panel.
I have given 2 months notice to my existing landlord and must leave my rented flat in Seaton by 23/1/2025. Conveyancing on my purchase has just started. Can I complete in six weeks as don't want to have to find temporary accommodation?
Generally one should not give notice for your lease unless your lawyer suggests that you should. If you have not already done so, speak to your conveyancer and urge them to they cajole the other side, try to an agreed time frame that everyone will look towards
We hope to to purchase with Darlington Building Society. We have called around locally yet am unable to find a Seaton conveyancing firm on the Darlington Building Society panel. Could you assist?
Feel free to take advantage of the find a lender approved solicitor tool on this page. Pick the mortgage company and type Seaton or your preferred area and you will see numerous solicitors based in Seaton or nearest you.
I have been on the look out for a ground for flat up to £245,000 and identified one close by in Seaton I like with a park and transport links nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Seaton in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan that many years will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
Can you provide any advice for leasehold conveyancing in Seaton with the intention of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Seaton can be reduced if you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the buyers’ conveyancers. You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. If there is a history of conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a flat where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than unsettled. The majority of landlords or managing agents in Seaton charge for providing management packs for a leasehold home. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Seaton.
Seaton Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
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This question is helpful as a) areas can cause problems in the block as the common areas may start to deteriorate if maintenance are not paid for b) if the tenants have a dispute with the running of the building you will wish to know about it Is there a share of the freehold? What is the the remaining lease term?
What should I expect to pay for conveyancing in Seaton?
The total sum charged for Seaton conveyancing fees are likely to be calculated at:
- a standard cost; or
- on a time spent basis (i.e. the time spent on the particular case).
In reality very few Seaton conveyancing firms invoice on an hourly basis