Do all mortgage companies provide you with an approved list of Kempshott conveyancing solicitors? How do you know who is on the Lloyds conveyancing panel?

Kempshott conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.

I'm the sole recipient of my late father’s estate with all property in now in my sole name, including the my former home in Kempshott. The Kempshott property was put into my name in March. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership may be treated the same way as though I had purchased the property in March. Do I have to wait 6 months to sell?

The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How practical a view banks take of it, depend on the lender as this obligation is chiefly there to capture subsales or the wholesaling and assigning of properties.

We were going to get a AIP from Nationwide this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nationwide recommend any Kempshott solicitors on the Nationwide conveyancing panel, or is it better to go independently?

You will need to appoint Kempshott solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.

My wife and I are spending time viewing houses in Kempshott and I am about to put in an offer. Is it best to have a lawyer on ‘stand by’? I intend to finance via a mortgage with Leeds Building Society.

It would be advisable to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. As you are obtaining a mortgage with Leeds Building Society, ask your prospective lawyers if they are on the Leeds Building Society conveyancing panel otherwise they can't do the mortgage legal work.

The deeds to our home are lost. The solicitors who conducted the conveyancing in Kempshott 4 years ago have long since closed. Will I be able to sell the house?

You no longer need to have the physical original deeds to establish that you own the land or premises, as the Land Registry hold details of all registered land or property electronically.

What is different about your site and other internet conveyancing solicitors for conveyancing in Kempshott?

At this site receive an accurate costs illustration via a Solicitor or Licensed Conveyancer that understands the nuances for your conveyancing in Kempshott. Unlike many estate agents and brokerage sites we do not charge firms a commission if you instruct them for your conveyancing in Kempshott

I am tempted by the attractive purchase price for a couple of apartments in Kempshott which have approximately forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Kempshott is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most buyers and banks, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Kempshott conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Kempshott Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing

This information is important as a) areas can result in problems for the block as the common areas may start to deteriorate if repairs are not paid for b) if the tenants have an issue with the running of the building you will wish to know about it Where a Kempshott lease has less than 80 years it will impact the value of the apartment. It is worth checking with your mortgage company that they are happy with residual term of the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and you need to have some idea of what this would cost. Remember, in most cases you would need to own the residence for two years before you are legally able to extend the lease. Its a good idea to discover as much as you can about the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to day to day issues like the cleanliness of the communal areas. Enquire of other people if they are happy with them. In conclusion, find out the dates that the maintenance fees are due to the managing agents and specifically what you get for your money.