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Recently asked questions about conveyancing in Polegate

Will my conveyancer be asking questions regarding flooding during the conveyancing in Polegate.

Flooding is a growing risk for lawyers dealing with homes in Polegate. Plenty of people will buy a house in Polegate, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.

Conveyancers are not qualified to impart advice on flood risk, but there are a numerous searches that can be carried out by the buyer or on a buyer’s behalf which can figure out the risks in Polegate. The conventional set of property information forms supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to determine whether the premises has ever been flooded. In the event that flooding has previously occurred and is not notified by the owner, then a buyer may issue a compensation claim as a result of such an inaccurate response. The buyer’s solicitors may also conduct an enviro search. This will reveal whether there is a recorded flood risk. If so, additional inquiries should be carried out.

It has been three months since my purchase conveyancing in Polegate completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

How does conveyancing in Polegate differ for new build properties?

Most buyers of new build or newly converted property in Polegate contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in Polegate usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Polegate or who has acted in the same development.

Is it simple use the search facility to locate a conveyancing lawyer in Polegate on the authorised to act for my bank?

First choose a mortgage company such as Yorkshire Building Society, Virgin Money or Barclays Direct then type in your location such as Polegate. Conveyancing organisations in Polegate and further afield will then be listed.

Last December I purchased a leasehold flat in Polegate. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I acquired a ground floor flat in Polegate, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Polegate with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease ceases on 21st October 2081

With just 57 years remaining on your lease we estimate the premium for your lease extension to span between £28,500 and £33,000 plus costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.

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