I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my South Petherton and Lambrook building society branch on various occasions and was told they are content with the situation and they will lend. My South Petherton and Lambrook conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
As long as the solicitor is on the lender approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
My offer was accepted on a house in South Petherton and Lambrook on 14/2/2019, valuation was booked 2 days later, all came back fine. Solicitor retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Santander and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Santander conveyancing panel. Are Santander entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
Virgin Money have agreed my home loan in principle, my offer on a flat in South Petherton and Lambrook has been agreed to, what happens next?
Your estate agent will want to know who your solicitors are (be sure the lawyers are on the lender’s approved list). Telephone Virgin Money or the financial adviser and complete any appropriate forms. Virgin Money will appoint a valuer who will get in touch with the selling agent or owners to book a time for the valuation to happen. Once conducted (assuming no problems) it takes about ten days for the mortgage offer to be issued. Virgin Money will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in South Petherton and Lambrook.
My partner and I are downsizing from our house in South Petherton and Lambrook and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. A high street South Petherton and Lambrook conveyancer would know that there is no such problem. For the life of me I don't know why the buyers instructed an internet conveyancing outfit rather than a conveyancing solicitor in South Petherton and Lambrook. We have lived in South Petherton and Lambrook for three years we know that this is a non issue. Should we get in touch with our local Authority to get clarification that there is no issue.
It sounds as though you may have a conveyancing firm already. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
My wife and I purchased a 4 bedroom Victorian house in South Petherton and Lambrook. Conveyancing practitioner represented me and Britannia. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in South Petherton and Lambrook and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing lawyer who conducted the purchase.
I am using a search engine for the term cheap conveyancing in South Petherton and Lambrook it brings up many solicitorsin the vicinity. With so much choice what is the best way to find the right solicitor for purchase transaction?
The preferential method of seeking the right conveyancer is via trusted referral, so enquire of colleagues and relatives who have purchased a property in South Petherton and Lambrook or a local estate agent or mortgage broker. Charges for conveyancing in South Petherton and Lambrook differ, so it's a good idea to request at least four fee calculations from different solicitors. Dont forget to clarify that the fees are fixed.
Having checked my lease I have discovered that there are only Fifty years left on my flat in South Petherton and Lambrook. I now want to get lease extension but my freeholder is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the lessor. In some cases an enquiry agent should be helpful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the application to the County Court overseeing South Petherton and Lambrook.
I acquired a studio flat in South Petherton and Lambrook, conveyancing having been completed in 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in South Petherton and Lambrook with over 90 years remaining are worth £181,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ceases on 21st October 2070
With only 51 years left to run we estimate the price of your lease extension to span between £30,400 and £35,200 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use this information 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 should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.