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Find a Warsash Conveyancing Solictior on Your Lender’s Panel

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

Only LenderPanel.com provides a subset of authorised Warsash conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Warsash

I was notified today by my estate agent that my Warsash property lawyer is not on the mortgage company Solicitor panel. How can I be certain if this is indeed the case?

The best course of action for you to take is to contact your Warsash conveyancer. It is reasonable to expect your lawyer to advise you what has happened. Where they are not on the panel they may be able to suggest a Warsash conveyancing practice that is on the approved list of lawyers for your mortgage company.

Can I use your services to recommend a Conveyancing solicitor in Warsash even where I’m not buying or selling a house, for example where I want to buy an office in Warsash with a loan from Halifax?

Our search tool is mainly there to get a quote from residential conveyancing solicitors in Warsash but we have listed at the end of this page a few Warsash commercial conveyancing firms. You should make contact with the solicitors directly to check if they can also act for Halifax

I am about to put an offer on a leasehold apartment in Warsash. The property agents advise that it is normal for flats in Warsash to have less than 75 years left on the lease. I am expecting a loan with The Mortgage Works. Is this going to be acceptable if the lease has 72 years remaining.

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. The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 17/7/2019 the requirements read as follows :

Minimum unexpired lease term is 70 years with 30 years remaining at the end of the mortgage term.
Ground Rents and event fees must be reasonable at all times during the term of the lease. If you’re unsure as to whether the terms of a lease are unreasonable or onerous, please refer the details to us for Valuer consideration. See the guidance below.

SECOND HAND PROPERTIES

Unacceptable - advise Originations (Will be declined):
- Unexpired lease term <70 years
- Ground Rent >0.5% of the property value
- Ground Rent doubles <every 20 years (e.g. doubles every 5, 10 or 15 years)
- Ground Rent is compounded RPI
- Ground Rent review period ≤5 years

Refer to Originations (Valuer will consider any impact on valuation figure and marketability):
- Unexpired lease term is 70 to 85 years
- Ground Rent >0.1% and ≤0.5% of the property value
- Ground Rent escalation is linked to any indices greater than RPI
- Ground Rent escalation is linked to the value of the building*
- Ground Rent review period is >5 and <10 years
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges >£500 p/a (please provide details of what the charges cover)
- Service Charges >0.5% of property value p/a (please provide details of what the charges cover)
- Anything that appears onerous, unusual or out of the ordinary

Acceptable (no requirement to advise Originations):
- Unexpired lease term >85 years
- Ground Rent ≤0.1% of the property value
- Ground Rent review period ≥10 years
- Ground Rent escalation ≤RPI

NEW BUILD PROPERTIES (includes office conversions)

Unacceptable - advise Originations (Will be declined):
- Unexpired lease term <125 years on a new build flat or <250 years on a new build house
- Starting Ground Rent >0.1% of the property value
- Ground Rent review period ≤ 5 years
- Ground Rent doubles < every 20 years (e.g. doubles every 5, 10 or 15 years)
- Ground Rent is compounded RPI

Refer to Originations (Valuer will consider any impact on valuation figure and marketability):
- Ground Rent is linked to any indices greater than RPI
- Ground Rent is linked to the value of the building*
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges >£500 p/a (please provide details of what the charges cover)
- Service Charges >0.5% of property value p/a (please provide details of what the charges cover)
- Anything else appears onerous, unusual or out of the ordinary

Acceptable (no requirement to advise Originations):
- Unexpired lease term ≥125 years on a new build flat or ≥250 years on a new build house
- Starting Ground Rent ≤0.1% of the property value
- Ground Rent review period >5 years
- Ground Rent escalation ≤RPI

* Where the Ground Rent escalation is linked to the value of the building, please provide the following:
- How is the value of the block/unit currently calculated and if the assessment relates to the block(s), how is the Ground Rent calculated/apportioned per property?
- The current valuation and Ground Rent for each unit
- What is the mechanism for future valuations of the block and how is the Ground Rent calculated/apportioned?
- What is the right of appeal? And is this a documented process within the lease?
- Who bears the cost of the valuation (and appeal) process?
- Confirmation the review period is not less than twenty years

I am purchasing a new build house in Warsash with a loan from Barnsley Building Society. The developers would not reduce the price so I negotiated £7000 of extras instead. The estate agent suggested that I not reveal to my conveyancer about this extras as it may put at risk my mortgage with the lender. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I'm refinancing my primary house to a buy to let mortgage with Alliance & Leicester and I will use the rest of the raised equity towards another property. The area we are interested in is Warsash. Will your lawyers be able to act for both sets of mortgage companies and tie in the transactions?

Make use of our comparison tool on this site to check that the lawyers are approved by both lenders. Assuming that they are your solicitor should be able to connect the two conveyancing matters but you should have a chat with you lawyer and make apparent your desired outcome and needs.

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