I am buying property in Lymington. My Solicitor is not on the bank approved list. Is it possible for me to continue with my Lymington conveyancing solicitor notwithstanding that they are not on the bank approved list?
You will need to use a lawyer to deal with the legal work required if you need a mortgage to purchase your home. The lawyer will conduct all the essential legal checks on the property, make sure that you will be registered as proprietor and ensure that all the necessary mortgage documentation is in order. You may instruct a Lymington solicitor of your choice. However, if the property lawyer selected is not on the mortgage company conveyancing panel supplemental fees will arise as separate legal representation will be need by the mortgage company. Bank panel applications can be submitted, so provided your solicitor has not previously sought membership they should take the chance to apply.
Would the conveyancing lawyers listed on your site handle conveyancing in Lymington by way of an attended exchange?
We do have a number of conveyancing specialists who can conduct 24hr exchanges. You should e-mail us to receive a conveyancing quote and details as to availability.
A relative advised me that in buying a property in Lymington there may be various restrictions prohibiting external changes to the property. Is this right?
There are anumerous of properties in Lymington which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Lymington should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Are all Lymington Conveyancing Quality Solicitors on the Kent Reliance conveyancing list of approved solicitors?
It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
I am selling my flat. I had a double glazing fitted in July 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Virgin Money are being difficult. The Lymington solicitor who is on the Virgin Money conveyancing panel is recommending indemnity insurance as a solution but Virgin Money are insisting on a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Lymington. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Lymington
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. There must be mutual enforceability of lessee’s covenants. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one round the corner in Lymington I like with amenity areas and station nearby, the downside is that it only has 49 years on the lease. There is not much else in Lymington in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the shortness of the lease will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.