Please help. My Saltdean conveyancer is informing me me that she is duty bound toconduct Saltdean conveyancing searches asthe firm are on the Santanderconveyancing panel. These Saltdean searches cost a lot of money can this be avoided?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the CML Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Saltdean conveyancing searches.
I am looking for a ground for flat up to £235,500 and found one near me in Saltdean I like with open areas and transport links nearby, the downside is that it's only got 61 years on the lease. There is not much else in Saltdean in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan the shortness of the lease will be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
Should I be suspicious by brokers that I am dealing with are suggesting a factory type conveyancing firm as opposed to a local Saltdean conveyancing company?
As with many professional services, often referrals from connections can be extremely useful or valuable. Nevertheless there are lots of players in a conveyancing deal; estate agents, mortgage brokers and banks may recommend solicitors to choose. On occasion the solicitors might be known to one of the organisations as being good in their field, but occasionally there might be a financial incentive behind the recommendation. You are free to choose your preferred conveyancer. You need to be aware that some lenders operate an approved list of law firms you must use for the mortgage related work in your conveyancing.
I need to retain a conveyancing solicitor for some conveyancing in Saltdean. I've chance upon a web site which looks to be the perfect answer If there is a chance to get all this stuff completed via phone that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I’m about to sell my garden flat in Saltdean. Conveyancing has not commenced, however I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
It best that you discharge the invoice as you normally would given that all ground rent and service charges will be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a basement flat in Saltdean, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Saltdean with an extended lease are worth £201,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2085
With 64 years remaining on your lease we estimate the premium for your lease extension to range between £14,300 and £16,400 plus professional fees.
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. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.