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Find a Sawtry Conveyancing Solictior on Your Lender’s Panel

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

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Recently asked questions about conveyancing in Sawtry

I am the registered owner of a freehold house in Sawtry but nevertheless pay rent, why is this and what is this?

It’s unusual for properties in Sawtry and has limited impact for conveyancing in Sawtry but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.

I have 7378 less than 75 years unexpired on my lease and need a lease extension for my flat in Sawtry. Conveyancing solicitors on the Bank of Ireland panel can deal with such extensions correct?

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 18/1/2022 the requirements read as follows :

Yes, subject to a minimum lease term of 85 years. The unexpired lease term must be at least the mortgage term plus 45 years. See also 5.14.9

When it comes to mortgage companies such as Co-operative, do Sawtry property lawyers incur an annual charge to be on the conveyancing panel?

We are unaware of any mortgage company fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.

Is it the case that all Sawtry solicitor practices on the Kent Reliance conveyancing panel are governed by the SRA?

As solicitors, in order to be on the Kent Reliance approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Some mortgage companies do permit licenced conveyancers on their panel in which case such practice would be governed by the CLC.

The formalities of my purchase has taken place for my property in Sawtry. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?

Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.

About to purchase a new build apartment in Sawtry. Conveyancing is necessary evil 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 legal work.

Here are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Sawtry

    Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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. 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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?

Do you have any advice for leasehold conveyancing in Sawtry with the purpose of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Sawtry can be avoided where you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the buyers’ solicitors.
  • Many freeholders or managing agents in Sawtry charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Sawtry. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. Some Sawtry leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Obtaining a duplicate share certificate is often a time consuming formality and frustrates many a Sawtry home move. Where a duplicate share is necessary, do contact the company officers or managing agents (if applicable) for this sooner rather than later.

I acquired a 1 bedroom flat in Sawtry, conveyancing formalities finalised 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Sawtry with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 levied per year. The lease runs out on 21st October 2081

With 59 years remaining on your lease we estimate the price of your lease extension to span between £20,900 and £24,200 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

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