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Find a Ross On Wye Conveyancing Solictior on Your Lender’s Panel

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

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Recently asked questions about conveyancing in Ross On Wye

I instructed a Ross On Wye based solicitor for our conveyancing in Ross On Wye today. Going through the small print I seeI am responsible for costs even if the sale aborts. Would I be best advised to use an on-line conveyancing company advertising no-sale-no-fee conveyancing in Ross On Wye?

Generally there is a compromise along the lines that if "No Sale No Fee" is available then the conveyancing charges will generally be uplifted to counteract the cases that do not proceed. Please beware that these deals generally do not cover expenditure for example Ross On Wye conveyancing search fees.

My husband and I are only a couple days away from an exchange on a flat in Ross On Wye and my parents have sent the ten percent deposit to my property lawyer. I am now advised that as the deposit has been sent from someone other than me my solicitor needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?

The conveyancer is obliged to clarify with mortgage company to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.

We see that you have a search directory identifying firms on the Santander conveyancing panel. Do firms pay you a commission if I instruct them for our conveyancing in Ross On Wye?

We are a listing service only for law firms wishing to communicate if they are on the Santander conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Ross On Wye.

I have 7378 less than 75 years unexpired on my lease and need a lease extension for my apartment in Ross On Wye. Conveyancing solicitors on the The Mortgage Works panel can deal with such extensions right?

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 4/2/2019 the requirements read as follows :

Minimum unexpired lease term is 70 years with 30 years remaining at the end of the mortgage term. Report to the issuing office if the lease term is shorter than that stated within the Offer and has less than 100 years remaining.(There is no requirement to report if the lease term is lower than that stated on the Offer but still has 100 years or more to run, or if the lease term is longer than that stated on the Offer).

NEW BUILD PROPERTIES (includes office conversions)
The following are not acceptable:
- The unexpired lease term on a new build flat is less than 125 years
- The unexpired lease term on a new build house is less than 250 years
- Starting ground rent is more than 0.1% of the property value
The lease must be amended to comply with the above. If not the case cannot proceed. Please advise us where the case cannot proceed.
Ground rents and event fees:
Ground rent and other event fees must be reasonable at all times during the lease term. For example, it is acceptable for ground rent escalation to be linked to RPI (Retail Price Index) or a similar index and where this is the case we do not need to be advised. However, unreasonable multipliers of ground rent will not be permitted, for example, doubling every 5, 10 or 15 years. These must be referred to us and we will advise if our mortgage offer remains valid. If you are unsure as to whether the terms of a lease are unreasonable, please refer the details to us.

Just had an offer accepted on a new build apartment in Ross On Wye. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Ross On Wye

    Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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.

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