Is there a reason why leasehold purchase conveyancing in Hampshire costs more?
Hampshire leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I'm purchasing a new build house in Hampshire with a mortgage from Bank of Scotland. The builders would not budge the price so I negotiated 6k of additionals instead. The house builders rep suggested that I not to tell my conveyancer about the deal as it would impact my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Hampshire is where the house is located. What do you suggest?
Flying freeholds in Hampshire are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hampshire 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 Hampshire may ascertain 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 residence.
I am downsizing from my property. My previous conveyancers closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Hampshire if that makes a difference.
You should use our search tool to help you find a solicitor for your conveyancing in Hampshire. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
I have noted on various online forums that when choosing a conveyancing firm they need approved by your bank. This is my first house move but I have an AIP via Nat West Bank and I already have a family conveyancing solicitor in Hampshire in place. Will Halifax need an approved solicitor to be selected? Does a directory of approved solicitors even exist for my conveyancing in Hampshire?
You need to choose a solicitor that is on the Halifax panel. Just ring your preferred Hampshire conveyancing lawyer to check if they are on the Halifax panel. If they are not approved you have a number of alternatives open to you here:
- Carry on with your chosen Hampshire lawyer but Halifax will need to instruct a conveyancing practitioner on their conveyancing panel. The net impact is additional cost and potential delay.
- Appoint a new conveyancer to act in the purchase, ensuring that they are on the Halifax conveyancing panel.
- Appeal to your property lawyer to apply to join the lender panel.