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Find a Aylesbury Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Aylesbury? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Aylesbury conveyancing at risk of delay or failure.

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Recently asked questions about conveyancing in Aylesbury

I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Aylesbury. My lender is Chelsea Building Society

Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 4/1/2022, the requirements read as follows :

I require fast conveyancing in Aylesbury as I am faced with a deadline to sign on the dotted line inside 2 weeks. A home loan is not required. Can I escape the need for conveyancing searches to save money and time?

If.Given you are not obtaining a mortgage you have the choice not to do searches although no law firm would suggest that you don't. With lots of history conveyancing in Aylesbury the following are instances of issues that can appear and adversely impact future mortgageability: Enforcement Notices, Outstanding Charges, Outstanding Grants, Road Schemes,...

Me and my brother purchased a semi-detached Georgian property in Aylesbury. Conveyancing solicitor acted for me and Accord Mortgages Ltd. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?

You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Aylesbury and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with the conveyancing solicitor who carried out the work.

Over the last few months I have been searching for a flat up to £245,000 and found one near me in Aylesbury I like with open areas and railway links nearby, however it only has 51 years unexpired on the lease. I can't really find anything else in Aylesbury suitable, so just wondered if I would be making a mistake purchasing a short lease?

If you need a home loan that many years may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months 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 with a zero ground rent applied. You should speak to your conveyancing solicitor about this.

I am tempted by the attractive purchase price for a two apartments in Aylesbury which have in the region of 50 years left on the lease term. Do I need to be concerned?

There are plenty of short leases in Aylesbury. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field.

I own a 2 bed flat in Aylesbury, conveyancing formalities finalised 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Aylesbury with a long lease are worth £216,000. The ground rent is £50 yearly. The lease finishes on 21st October 2090

You have 68 years left to run the likely cost is going to range between £9,500 and £11,000 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide 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 may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.

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