I plan on purchasing residence in Sturminster Newton. My lawyer has never been on on the bank conveyancing panel. Am I still permitted to use my Sturminster Newton conveyancing solicitor notwithstanding that they are excluded from the mortgage company approved list?
You have a couple of options open to you here
- Complete the deal with your existing Sturminster Newton conveyancing practitioner but your bank will no doubt retain a lawyer from their approved list. The net result is additional charges and potential delay.
- Appoint a fresh solicitor to act in the purchase, obviously checking they are on the bank conveyancing panel.
- Convince your property lawyer to pull out all the stops to join the bank’s conveyancing panel
I have 70 years unexpired on my lease and need a lease extension for my flat in Sturminster Newton. Conveyancing solicitors on the Virgin panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 14/7/2024 the requirements read as follows :
My wife and I have arranged the release of further funds on our mortgage from Santander as we intend to carry out alterations to our property in Sturminster Newton. Are we obliged to appoint a nearby Sturminster Newton solicitor on the Santander conveyancing panel to deal with the paperwork?
Santander do not ordinarily instruct a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Santander list.
The formalities of my purchase has taken place for my property in Sturminster Newton. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
My offer was accepted on a house in Sturminster Newton on 5/6/2024, valuation was booked 3 days after, all came back fine. Conveyancer appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Leeds Building Society and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Leeds Building Society conveyancing panel. Are Leeds Building Society entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
I need some fast conveyancing in Sturminster Newton as I have an ultimatum to complete in less than one month. Fortunately I do not need a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
As you are are a mortgage free buyer you have the choice not to do searches although no conveyancer would recommend that you don't. With plenty of history conveyancing in Sturminster Newton the following are examples of issues that can be revealed and therefore impact market value: Enforcement Notices, Outstanding Charges, Overdue Grants, Road Schemes,...
How does conveyancing in Sturminster Newton differ for newly converted properties?
Most buyers of new build or newly converted property in Sturminster Newton approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in Sturminster Newton typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Sturminster Newton or who has acted in the same development.
I have recently realised that I have 68 years left on my flat in Sturminster Newton. I need to get lease extension but my landlord is missing. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to locate the landlord. In some cases a specialist should be useful to carry out a search and to produce a report to be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court overseeing Sturminster Newton.
I own a 1 bedroom flat in Sturminster Newton, conveyancing formalities finalised 7 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Sturminster Newton with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease expires on 21st October 2081
With 57 years left to run we estimate the premium for your lease extension to be between £28,500 and £33,000 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.