lenderpanel

Find a Fallowfield Conveyancing Solictior on Your Lender’s Panel

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

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


Recently asked questions about conveyancing in Fallowfield

My family solicitor has sent a quote for just over a thousand pound for leasehold conveyancing in Fallowfield. I am selling a newly refurbished property for £125,000. Is this over the top? Is it above what I should be paying for conveyancing in Fallowfield?

The charges are a bit high. If you are prepared to invest time contrasting quotes you might get the conveyancing a bit cheaper by perhaps £100 plus VAT. On the other hand, you mightcome to rue choosing an an untested solicitor. Remember to check that the solicitor can act for your lender. Do make use of our search tool to get a quote a Fallowfield conveyancing firm on the lender’s approved list of lawyers which can often include conveyancing solicitors in Fallowfield.

My Fallowfield solicitor has spotted an inconsistency when comparing the assumptions in the valuation survey and what is revealed within the legal papers for the property. My solicitor says that he is duty bound to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s approach right?

Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.

My home in Fallowfield is up for sale and I have accepted an offer. Will my conveyancer have to be on the Leeds Building Society conveyancing panel in order to deal with the discharge of my mortgage?

Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.

How does conveyancing in Fallowfield differ for newly converted properties?

Most buyers of new build premises in Fallowfield contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is completed. This is because builders in Fallowfield tend to purchase 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 property lawyers 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 Fallowfield or who has acted in the same development.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Fallowfield. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Fallowfield ?

The majority of houses in Fallowfield are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Fallowfield in which case you should be looking for a Fallowfield conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.

I purchased a ground floor flat in Fallowfield, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Fallowfield with an extended lease are worth £181,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease comes to an end on 21st October 2074

You have 50 years unexpired the likely cost is going to range between £32,300 and £37,400 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

Last updated

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