My fiance and I are intent on purchasing a leasehold flat in Kingstanding. My Conveyancer is not on the lender approved panel. Can I still retain my Kingstanding conveyancing solicitor even though they are excluded from the lender panel of approved conveyancing solicitors?
You have a couple of alternatives available to you here
- Complete the purchase with your chosen Kingstanding lawyer but your bank will undoubtedly use a property lawyer from their approved panel. The net result is additional charges and likely interruption.
- Get a new conveyancer to act in the purchase, making sure they are on the mortgage company conveyancing panel.
- Convince your conveyancing practitioner to do everything within their powers to get accepted on the lender’s conveyancing panel
I had intended to instruct a property lawyer in Kingstanding for our home move. Our financial adviser has since notified us that our mortgage lenders Santander won't deal with them. Why is this not regarded as unduly restrictive?
Mortgage Companies ordinarily imposes restrictions either the category or the number of conveyancing solicitors on their member panel. Typical examples of such criteria being that a firm must have two or more partners. In addition to restricting the type of firm, a few lenders have decided to limit the number of solicitor practices they use to act for them. You should note that Santander have no responsibility for the quality of advice provided by any member of Santander Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels a few years ago even though there remains mixed views about the level of solicitor engagement in some of that fraud. Data from the Land Registry indicate that thousands of law firms, including some in or near Kingstanding only execute one or two conveyances per annum.
I am looking for a leasehold apartment up to £235,500 and identified one near me in Kingstanding I like with a park and station nearby, however it only has 52 remaining years left on the lease. I can't really find anything else in Kingstanding for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage that many years will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
Can you offer any advice when it comes to choosing a Kingstanding conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Kingstanding conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Kingstanding conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:
What are the charges for lease extension conveyancing? How many lease extensions have they carried out in Kingstanding in the last twenty four months?
Kingstanding Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing
Generally speaking the cost for major works are not built into the service charges, although a few managing agents in Kingstanding ask leaseholders to pay into a sinking fund and this is used to offset against larger repairs or maintenance. This information is useful as a) areas could cause problems for the block as the communal areas may begin to deteriorate where services are not paid for b) if the leaseholders have a dispute with the managing agents you will wish to have full disclosure
My a dozen years ago. He has since got married, widowed and in recent months got married again. He will be selling the apartment in a couple of months. I think he will just be requested to supply copies of the marriage certificates to the solicitor but he is concerned it will hold up the home sale. Is it worth updating the Land Registry details for the house?
You are not required to bring up to date the title for the property as long as you have the proof required to show how the name change has come about.
The purchaser’s lawyer should check the title entries and require evidence to establish the change of name for instance marriage certificates.