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Find a Sunningdale Conveyancing Solictior on Your Lender’s Panel

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

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Recently asked questions about conveyancing in Sunningdale

I own a freehold premises in Sunningdale but still pay rent, why is this and what is this?

It is rare for properties in Sunningdale and has limited impact for conveyancing in Sunningdale 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 have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.

Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.

The Sunningdale conveyancing lawyers that I recently instructed on my house acquisition in Sunningdale have suddenly shut down. I chose them because I had to have a lawyer on the Nottingham conveyancing panel and my preferred Sunningdale lawyer was not. I issued them a cheque for two hundred pounds in advance. What should be my next steps?

If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Nottingham conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.

Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Sunningdale is where the house is located. Can you offer any advice?

Flying freeholds in Sunningdale are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sunningdale you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sunningdale may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

I need to find a conveyancing solicitor for remortgage conveyancing in Sunningdale. I happened to chance upon a web site which looks to be the perfect solution If it is possible to get all formalities completed via email that would be preferable. Do I need to be wary? 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?

We own a leasehold flat in Sunningdale. Conveyancing was finished in five years ago. I have read on numerous advice forums that I mustn’t allow the the remaining lease term to get too low. Why is that a problem?

Sunningdale domestic long term leases are for a prescribed term - often 99 years when they started. However many flats in Sunningdale were built or converted 30 or more years ago and so such leases now have under eighty years left to run. That may sound like a long time but Banks, Building Societies and other mortgage lenders generally need leases to have a minimum of seventy five years left to be mortgageable. Accordingly when you come to sell the property you will need to extend the term of your lease if you are nearing seventy five years. To optimize the marketability of your property you should be thinking about whether to extend your lease well in advance of selling the property. Furthermore strong financial reasons to taking action before the lease hits 80 years as when the lease falls below 80 years the amount you have to pay to extend starts to increase.

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Find out more about how flying freehold can affect your the value of a property.