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Find a Old Woking Conveyancing Solictior on Your Lender’s Panel

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

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


Recently asked questions about conveyancing in Old Woking

We previously appointed solicitors locally in Old Woking on the Aldermore solicitor panel. They have just invoiced me a separate charge for handling the Aldermore mortgage. Is this a supplemental conveyancing fee specified by Aldermore?

Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your conveyancing practitioner is entitled to charge a fee for this. The fee is not set by Aldermore but by your Old Woking conveyancing practitioner. Plenty of firms on the Aldermore panel will charge an ‘acting for lender’ fee but many practices include it on their overall fee.

How can we tell if a Old Woking conveyancing solicitor on the Kent Reliance panel is any good?

When it comes to conveyancing in Old Woking seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the lawyer carrying out your transaction.

I recently had an offer agreed on an apartment in Old Woking. My mortgage broker recommended their conveyancers. I paid an on account payment of £225. A few days later, the conveyancer called me embarrassingly acknowledging that they were not on the Lloyds 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 Lloyds 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.

I have been on the look out for a ground for flat up to £195,000 and found one round the corner in Old Woking I like with open areas and railway links nearby, the downside is that it only has 61 years on the lease. There is not much else in Old Woking for this price, so just wondered if I would be making a grave error buying a short lease?

Should you need a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you could ask them to 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 lawyer concerning this.

My husband and I are new on the property ladder - agreed a price, but the estate agent told us that the vendor will only move forward if we instruct the agent's recommended conveyancers as they want a ‘quick sale’. We would rather use a high street conveyancer used to conveyancing in Old Woking

It is improbable the sellers are driving this. Should the vendor require ‘a quick sale', taking such a hostile approach to a motivated purchaser is counter productive. Contact the owners directly and make the point that (a)you are motivated purchasers (b)you are excited to move forward, with finances in place © you do not need to sell (d) you intend to proceed fast (e)however you are going to use your own,trusted Old Woking conveyancing solicitors - as opposed tothe ones that will earn the negotiator at the agency a referral fee or hit his conveyancing targets pre-set by senior management.

I am looking at a couple of flats in Old Woking which have in the region of 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Old Woking is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of buyers and banks, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 Old Woking conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 any new 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.

I inherited a 1st floor flat in Old Woking, conveyancing was carried out in 1999. How much will my lease extension cost? Corresponding flats in Old Woking with a long lease are worth £206,000. The ground rent is £45 levied per year. The lease runs out on 21st October 2089

With just 65 years remaining on your lease we estimate the price of your lease extension to range between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

Me and my partner have today had an offer accepted on our first house in Old Woking, and are about to get solicitors lined up. I have used the numerous rating based websites and the quotes are from all over the the UK. Is it advisable to have a Old Woking property lawyer local to our potential new home? I am content to do all the communicating over the internet, but I guess at some point we will be required to visit the property lawyer's office to sign documents?

Generally there is no requirement to attend the office of your lawyer, they can send any relevant papers to you, which you can sign and send back. Many buyers and sellers nevertheless opt to use a locally based solicitor, but it is not a prerequisite for conveyancing in Old Woking.

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