We wanted to use a conveyancing solicitor in High Wycombe for our house purchase. Our broker informed us that our bank Barclays Direct won't deal with them. Why is this not regarded as unfair competition?
A mortgage company will require an approved conveyancer act for it. Borrowers are liable to meet the cost of this. Please make use of our directory service to get a quote from a solicitor to conduct conveyancing in High Wycombe on the Barclays Direct approved list of solicitors.
My wife and I have organised the release of further monies on our mortgage from Leeds Building Society as we want to carry out improvements to our home in High Wycombe. Do we need to choose a nearby High Wycombe solicitor on the Leeds Building Society conveyancing panel to deal with the legals?
Leeds Building Society would not normally instruct a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society conveyancing panel.
My fiancee and I are spending time looking at flats in High Wycombe and I am about to put in an offer. Is it advisable to have my lawyer on ‘stand by’? I am planning to take a mortgage with Yorkshire BS.
It would be advisable to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are taking out a mortgage with Yorkshire BS, ask your prospective lawyers if they are on the Yorkshire BS conveyancing panel otherwise they can't do the mortgage legal work.
UBS have agreed my home loan in principle, my bid on a flat in High Wycombe has been agreed to, now what?
Your property agent will wish to know who your solicitors are (ensure that the solicitors are on the bank’s panel). Telephone UBS or the financial adviser and finalise any relevant paperwork. UBS will sellect a valuer who will get in touch with the selling agent or seller to book an appointment. Once conducted (assuming no problems) it takes about a week for the mortgage offer to be issued. UBS will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in High Wycombe.
I have been on the look out for a flat up to £195,000 and identified one near me in High Wycombe I like with amenity areas and transport links in the vicinity, however it's only got 61 years on the lease. I can't really find anything else in High Wycombe suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term will be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
Am I right to be concerned that brokers that I am dealing with are suggesting an online conveyancing firm as opposed to a local High Wycombe conveyancing company?
As with lots of service providers, often referrals from family and friends can be worth their weight in gold. But there are many players in a conveyancing deal; estate agents, mortgage brokers and lenders may suggest lawyers to appoint. On occasion the conveyancers might be known to one of the organisations as being good in their field, but occasionally there may be a commercial relationship behind the recommendation. You are free to choose your own lawyer. However, bear in mind that most lenders specify a panel list of solicitors you must use for the mortgage aspect of your conveyancing.
I wish to rent out my leasehold apartment in High Wycombe. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your previous High Wycombe conveyancing lawyer is not around you can check your lease to see if it allows you to sublet the apartment. The accepted inference is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you need to obtain permission via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet in the absence of prior permission. The consent must not not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
I own a 1 bedroom flat in High Wycombe, conveyancing having been completed 9 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 High Wycombe with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2089
With only 66 years remaining on your lease we estimate the premium for your lease extension to range between £11,400 and £13,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.