lenderpanel

Find a Cross Keys Conveyancing Solictior on Your Lender’s Panel

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

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


Recently asked questions about conveyancing in Cross Keys

Can you explain why leasehold purchase conveyancing in Cross Keys is more expensive?

The conveyancing costs for a leasehold property in Cross Keys is inevitably higher than on a freehold property. This is due to the additional time necessary in corresponding with the freeholder and management company to obtain evidence concerning whether the rent and maintenance charges have been cleared and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.

I am the sole beneficiary of my late father’s will with all property in now in my sole name, including the house in Cross Keys. Conveyancing formalities meant that the Land Registry date was in June. I want to move. I understand that there is a CML 6 month 'rule', meaning my property ownership may be regarded the same way as if I'd bought the property in June. Will no one buy the property for half a year?

The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. How practical a view banks take of it, depend on the bank as this obligation is chiefly there to identify subsales or the wholesaling and assigning of properties.

When it comes to lenders such as Bank of Ireland, do Cross Keys property lawyers have to pay an annual charge to be on the conveyancing panel?

We are unaware of any mortgage company fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.

Our sealed bid on a detached house in Cross Keys has been agreed to, but there is a chain. The owners have put an offer on somewhere, however it’s not yet agreed to, and have viewings of other flats in the pipeline. I have chosen a nearby conveyancing solicitor in Cross Keys. What should be my next step? At what stage should I apply for the mortgage with Co-operative?

It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then survey, Cross Keys conveyancing search fees, etc). The first course of action is to check that your property lawyer is on the Co-operative approved list. As to the subsequent steps this very much depends on the uniqueness of your transaction, desire for the property and on the state of the market. During a hot market many home buyers will apply for the mortgage with Co-operative and pay for the valuation and only if it comes back ok would they pay their solicitor to move forward with searches.

I've recently found out that there is a flying freehold element on a property I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Cross Keys is where the house is located. Can you shed any light on this issue?

Flying freeholds in Cross Keys are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cross Keys you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cross Keys may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

What does commercial conveyancing in Cross Keys cover?

Cross Keys conveyancing for business premises covers a wide range of advice, supplied by regulated solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.

Last February I purchased a leasehold house in Cross Keys. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I inherited a 2 bed flat in Cross Keys, conveyancing formalities finalised 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Cross Keys with over 90 years remaining are worth £195,000. The ground rent is £45 levied per year. The lease ends on 21st October 2085

You have 63 years unexpired we estimate the premium for your lease extension to be between £16,200 and £18,600 plus costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.

Last updated

Find out more about how flying freehold can affect your the value of a property.