My husband and I are intent on purchasing a maisonette in West Sussex. My Solicitor is not listed on the lender approved list. Am I still permitted to continue with my West Sussex conveyancing solicitor notwithstanding that they are not on the mortgage company list of approved lawyers?
You must use a conveyancer to complete the formalities when you need a loan to buy your home. They will conduct all the necessary due diligence on the property, make sure that you will be registered as proprietor and ensure that all the necessary mortgage paperwork is dealt with. One may select a West Sussex conveyancing practitioner of your choosing. Nevertheless, where the lawyer appointed is not a member of the bank approved list further charges will arise as separate legal representation will be required by them. Bank panel applications can be submitted, so where your solicitor has not historically sought membership they should do so.
How up to date is your search tool for West Sussex conveyancing solicitors on the Yorkshire BS conveyancing panel? Do Yorkshire BS send you an updated list?
West Sussex conveyancing firms themselves provide us confirmation that they are on the Yorkshire BS conveyancing panel as opposed to being supplied with a list from Yorkshire BS directly.
This question may be naive but I am unseasoned as FTB of a ground floor flat in West Sussex. Do I receive the keys to the house on completion from my lawyer? If this is the case, I will use a High Street conveyancing solicitor in West Sussex?
On the day of completion you do not need to go to the conveyancers office in West Sussex. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's solicitors, and shortly after the monies have arrived, you will be invited to collect the keys from the selling Agents and start moving into the property. This tends to happen early afternoon.
A relative informed me that in buying a property in West Sussex there could be various restrictions affecting the ability to carry out external alterations to the property. Is this right?
There are anumerous of properties in West Sussex which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in West Sussex should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I'm spending time viewing houses in West Sussex and I am about to put in an offer. Should I already have a lawyer appointed at this point? I will be getting a home loan with UBS.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. Given that you are obtaining a mortgage with UBS, make sure you remember to check that your lawyer is on the UBS conveyancing panel.
I have been on the look out for a ground for flat up to £235,500 and found one round the corner in West Sussex I like with a park and station in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in West Sussex suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
I have been recommended by a number of property agents in West Sussex to locate a solicitor on your site. Is there a financial advantage for Estate Agents to promote your lawyers over a competitor’s?
We refuse to offer any referral fee for directing people to this site. We found it would be just too difficult to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am a negotiator for a reputable estate agent office in West Sussex where we see a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local West Sussex conveyancing firms. Please can you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the registered owner of a 2 bed flat in West Sussex, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in West Sussex with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 yearly. The lease finishes on 21st October 2086
With 61 years remaining on your lease we estimate the premium for your lease extension to range between £18,100 and £20,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive 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 want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.