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Find a Boscombe Conveyancing Solictior on Your Lender’s Panel

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

Only LenderPanel.com provides a subset of authorised Boscombe conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Boscombe

Much to our surprise we have been informed by our financial adviser that my Boscombe property lawyer is not on the lender Solicitor panel. What can I do to be certain whether this is indeed the case?

The sensible course of action for you to take is to contact your Boscombe lawyer directly. You lawyer should notify you what has happened. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.

I require conveyancing for a flat in a fairly new development (seven years built) in Boscombe. 95% of the flats are already occupied. Do I need carry out the conveyancing searches as part of conveyancing in Boscombe?

If you getting a mortgage, your lender will require some (many) of the searches so you'll have no choice. If not, then Boscombe conveyancing searches are optional. Your solicitor, will 'advise', perhaps in the strongest possible terms, that you should not go ahead without searches, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or you will need to switch to an alternative solicitor for your conveyancing in Boscombe.

As a FTB what is the most important number one tip you can impart concerning purchase conveyancing in Boscombe?

You may not hear this from too many lawyers but conveyancing in Boscombe or throughout Dorset is an adversarial experience. Put another way, when it comes to conveyancing there exists plenty of room for confrontation between you and others involved in the ownership transfer. For example, the seller, selling agent and sometimes your lender. Appointing a solicitor for your conveyancing in Boscombe is a critical decision as your conveyancer is your adviser, and is the SOLE person in the legal process whose role it is to act in your best interests and to keep you safe.

On occasion a third party with a vested interest may try and convince you that it is in your interests to do things their way. For example, the estate agent may claim to be assisting by suggesting your lawyer is wrong. Or your mortgage broker may advise you to do take action that is against your lawyers guidance. You should always trust your lawyer above all other parties in the home moving process.

I have 70 years unexpired on my lease and require a lease extension for my apartment in Boscombe. Conveyancing solicitors on the The Mortgage Works panel can deal with such extensions right?

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 10/2/2024 the requirements read as follows :

Minimum unexpired lease term is 70 years with 30 years remaining at the end of the mortgage term.
Where the unexpired lease term is different to that recorded on the mortgage offer, the following clarifies if we need to be informed:

Second hand property:
- If the unexpired lease term on the offer is 85 years or more - only advise us if the actual lease term is less than 85 years
- if the unexpired lease term on the offer is less than 85 years – advise us if the actual lease term is different than reported
- For equity share applications - advise us if the actual lease term is different than reported on the offer

New build property:
- If the unexpired lease term stated on the offer is 125 years (flat) / 250 years (house) or more - only advise us if the actual lease term is less than 125 years (flat) / 250 years (house)
- For equity share applications - always advise us if the actual lease term is different than reported on the offer

Lease terms such as ground rent and event fees must be reasonable at all times during the term of the lease and adhere to our requirements below. If you’re unsure as to whether the terms of a lease are unreasonable or onerous, please refer the details to us in plain English for Valuer consideration. If the potentially onerous terms are in relation to the ground rent please include the current ground rent figure per annum, how often it will be reviewed and the price structure it will be reviewed against. See the guidance below.

SECOND HAND PROPERTIES

Unacceptable - advise Issuing Office (Will be declined):
- Unexpired lease term less than 70 years
- Less than 30 years remaining at the end of the mortgage term
- Ground Rent greater than 0.5% of the property value
- Ground Rent doubles less than every 20 years (e.g. doubles every 5, 10 or 15 years) - acceptable if doubles every 20 years or more
- Ground Rent is compounded RPI
- Ground Rent review period less than or equal to 5 years

Refer to Issuing Office (Valuer will consider any impact on valuation figure and marketability):
- Unexpired lease term is 70 to 85 years
- Ground Rent greater than 0.1% and less than or equal to 0.5% of the property value
- Ground Rent escalation is linked to any indices greater than RPI
- Ground Rent escalation is linked to the value of the building*
- Ground Rent review period is greater than 5 and less than 10 years
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges greater than £500 p/a (please provide details of what the charges cover)
- Service Charges greater than 1.0% of property value p/a (please provide details of what the charges cover)
- Anything that appears onerous, unusual or out of the ordinary

Acceptable (no requirement to advise Issuing Office):
- Unexpired lease term greater than 85 years
- Ground Rent less than or equal to 0.1% of the property value
- Ground Rent review period greater than or equal to 10 years
- Ground Rent escalation less than or equal to RPI

NEW BUILD PROPERTIES (includes office conversions)

Unacceptable - advise Issuing Office (will be declined):
- Unexpired lease term less than 125 years on a new build flat or less than 250 years on a new build house
- Any lease which is subject to a ground rent (or annual rent) being charged which is more than on a peppercorn basis
- Any lease which is subject to a ground rent (or annual rent) being reviewed and altered on any review basis or methodology

Refer to Issuing Office (Valuer will consider any impact on valuation figure and marketability):
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges greater than £500 p/a (please provide details of what the charges cover)
- Service Charges greater than 1.0% of property value p/a (please provide details of what the charges cover)
- Anything else appears onerous, unusual or out of the ordinary

Acceptable (no requirement to advise Issuing Office):
- Unexpired lease term greater than or equal to 125 years on a new build flat or greater than or equal to 250 years on a new build house
- A lease subject to a peppercorn ground rent (annual rent) charges

For the avoidance of doubt, any new build properties completed but not sold pre 30 June 2022 will only be acceptable if the lease conforms to the above guidance

* Where the Ground Rent escalation is linked to the value of the building, please provide the following:
- How is the value of the block/unit currently calculated and if the assessment relates to the block(s), how is the Ground Rent calculated/apportioned per property?
- The current valuation and Ground Rent for each unit
- What is the mechanism for future valuations of the block and how is the Ground Rent calculated/apportioned?
- What is the right of appeal? And is this a documented process within the lease?
- Who bears the cost of the valuation (and appeal) process?
- Confirmation the review period is not less than twenty years

LEASE EXTENSIONS

We require all lease extensions to be completed under the Leasehold Reform Housing and Urban Development Act 1993 and to meet the above criteria as a minimum. Where you become aware that it does not meet these requirements, please refer to the Issuing Office

How do I use your search tool to find a conveyancing practitioner in Boscombe on the authorised to act for my lender?

First choose a lender such as Barclays , Leeds Building Society or Alliance & Leicester then specify your location for instance Boscombe. Conveyancing organisations in Boscombe and beyond will then be identified.

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