I can't travel far from Bexhill On Sea. I would like to know the reason why all Bexhill On Sea conveyancing practitioners are not on all lender panels?

A decade ago most banks displayed an attitude to risk which is different from today. The FSA in 2010 conducted a thematic review into fraud which in summary warned lenders: know the conveyancing practitioners on your panel. Accordingly, lenders have subsequently soughtmore information from law firms about their processes and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Many firms have found themselves excluded from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the minimum volume of transactions the lenders required.

Please could you suggest a Bank of Scotland accepted Bexhill On Sea conveyancing conveyancer who can have us moved in within two weeks? Would it be better to use a high street Bexhill On Sea firm or a web based firm?

We would be happy to suggest some excellent Bexhill On Sea conveyancing firms. You can also walk up the high street in Bexhill On Sea. Approach some well established firms and request to speak with a conveyancing solicitor for a quote. Mention your requirements together with your reasons and get a commitment on your deadline. Select the one that genuine.

How does conveyancing in Bexhill On Sea differ for new build properties?

Most buyers of new build residence in Bexhill On Sea come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Bexhill On Sea tend to acquire the real estate, 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 conveyancers 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 accustomed to new build conveyancing in Bexhill On Sea or who has acted in the same development.

I am looking for a flat up to £245,000 and identified one near me in Bexhill On Sea I like with amenity areas and transport links nearby, the downside is that it only has 51 years on the lease. There is not much else in Bexhill On Sea 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 an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.

I work for a reputable estate agency in Bexhill On Sea where we have experienced a few leasehold sales jeopardised as a result of short leases. I have been given inconsistent advice from local Bexhill On Sea conveyancing firms. Please can you clarify whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

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 bought a leasehold flat in Bexhill On Sea, conveyancing formalities finalised December 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Bexhill On Sea with an extended lease are worth £227,000. The ground rent is £50 levied per year. The lease ends on 21st October 2097

You have 72 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.