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Find a Hillsborough Conveyancing Solictior on Your Lender’s Panel

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

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


Recently asked questions about conveyancing in Hillsborough

Having been referred to your organisation we were about to go ahead with a conveyancing solicitor in Hillsborough recommended on your site but have come across some other costs illustrations via the web appear less expensive – why is this?

There are many firms of solicitors promoting supposedly £99 conveyancing, but extrafees result in the final fee mounting up beyond all recognition. Conveyancers are obliged to make sure that fees outlined in terms of engagement should be fair and reasonable and be applied The law firms that we put forward for conveyancing in Hillsborough specify all legal fees for the property you intend topurchase.

The Hillsborough conveyancing firm handling our Hillsborough conveyancing has uncovered a discrepancy when comparing the surveyor’s assumptions in the home valuation report and what is in the conveyancing documents. My lawyer has advised that he needs to check that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action legitimate?

Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications 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 you.

I have 70 years left on my lease and require a lease extension for my flat in Hillsborough. 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 30/3/2020 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 Originations (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 Originations (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 0.5% 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 Originations):
- 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 Originations (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
- Starting Ground Rent greater than 0.1% of the property value
- Ground Rent review period less than or equal to 5 years
- 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

Refer to Originations (Valuer will consider any impact on valuation figure and marketability):
- Ground Rent is linked to any indices greater than RPI
- Ground Rent is linked to the value of the building*
- 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 0.5% 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 Originations):
- 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
- Starting Ground Rent less than or equal to 0.1% of the property value
- Ground Rent review period greater than 5 years
- Ground Rent escalation less than or equal to RPI

* 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

My partner and I are spending time looking at houses in Hillsborough and I am about to put in an offer. Is it advisable to have my conveyancing practitioner on ‘stand by’? I am planning to take a home loan with Aldermore.

It would be prudent to start 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 pass their details on to the estate agent. As you are seeking a mortgage with Aldermore, ask your prospective lawyers if they are on the Aldermore conveyancing panel otherwise they can't do the mortgage legal work.

After weeks of negotiation I have agreed a price on an apartment in Hillsborough. My financial adviser suggested a property lawyer. I paid an advanced payment of £150. A few days later, the conveyancer called me sheepishly admitting that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

At last I have had an offer on a maisonette in Hillsborough accepted, the owners do nevertheless have a connected purchase. The owners have offered on a property, but it’s not yet tied up, and are looking at other properties booked. I have chosen a local conveyancing solicitor in Hillsborough. What do I do now? When do I get the mortgage application with TSB going?

It is normal to have anxieties where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx £1k, then valuation, Hillsborough conveyancing search fees, etc). The first thing to do is check that your solicitor is on the TSB conveyancing panel. Regarding the subsequent stages this very much dictated by the uniqueness of your transaction, attraction to this property and on the state of the market. During a rising market some purchasers will apply for a home loan with TSB and arrange for the valuation and only if it comes back ok would they request their solicitor to press on with searches.

I need to review quotes for conveyancing in Hillsborough from numerous conveyancing practitioner and appoint one. Am I right to instruct them to sit tight until I a suitable apartment to buy.

We suggest that you only ask your lawyer to open a file and submit searches after the sales memorandum has been issued by the estate agent especially as Hillsborough conveyancing searches are a couple of hundred pounds.

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