I am in the market for a reasonably priced conveyancer. Should I go for for an internet conveyancer or a family Hungerford conveyancing solicitor?
Hungerford is a special area, where regional experience is a big bonus. The laid-back lifestyle is great – just not for your home move. The property lawyers that we list providing well rounded Hungerford knowledge with a positive, hands-onattitude that ensures the conveyancing to progress with the minimum of fuss. It will certainly help if they can make use of long term rapport with mortgage brokers, search providers, valuers and counterpart Hungerford conveyancing firms
I am considering applying for a TSB mortgage for purchase of a new build (under development) in Hungerford with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for TSB ?
There is nothing to stop you using your solicitor, but TSB will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I opted to have a survey completed on a house in Hungerford in advance of appointing lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some lenders will not grant a mortgage on a flying freehold property.
It varies from the lender to lender. Lloyds has different requirements for example to Birmingham Midshires. If you e-mail us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Hungerford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hungerford to see if the conveyancing will be more expensive.
Are there any apps to assist me to search for a Hungerford law firm on the Bank of Scotland conveyancing panel? I have a car and am willing to travel upto 25kilometers to meet the conveyancer.
You can use the tool on this page. Please pick a mortgage company and your location and you will see a number of Hungerford conveyancing lawyers locally. We have detailed some Hungerford conveyancing firms towards the end of this page and you can contact them to check if they are on the Bank of Scotland approved list
I am attracted to a two apartments in Hungerford both have approximately fifty years remaining on the leases. Do I need to be concerned?
There are no two ways about it. A leasehold flat in Hungerford is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the salability of the property. For most purchasers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hungerford conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Hungerford - A selection of Queries before buying
The majority of Hungerford leasehold properties will have a service bill for the upkeep of the block levied by the management company. If you acquire the flat you will have to meet this amount, usually periodically accross the year. This could be anything from a few hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent for you to pay yearly, normally this is not a significant sum, say around £50-£100 but you should to check it because occasionally it can be many hundreds of pounds. Are there any major works on the horizon that could increase the service fees? What is the length of the lease?