I am expecting a AIP from Santander this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Santander recommend any Bookham solicitors on the Santander conveyancing panel, or is it better to go independently?
You will need to appoint Bookham solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Bookham bank branch on a couple of occasions and was informed it wasn't an issue and they will lend. My Bookham conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Your lawyer has to comply with the CML Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I've read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Bookham solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Bookham surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Will commercial conveyancing searches disclose proposed roadworks that may affect a commercial site in Bookham?
Many commercial conveyancing solicitors in Bookham will perform a SiteSolutions Highways report as it reduces the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Bookham. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Bookham.
For each commercial conveyancing transaction in Bookham it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to Bookham commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Bookham.
Me and my brother purchased a 4 bedroom Victorian property in Bookham. Conveyancing practitioner acted for me and Barclays . I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register for 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 Bookham and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing solicitor who conducted the work.
I have been pointed in your direction by a few property agents in Bookham to select a conveyancer on your site. Is there a financial incentive for Estate Agents to recommend your lawyers over and above another?
We don’t give any financial incentive for pointing buyers and sellers to this site. We thought it would be too underhand a fee as a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
I am using a search engine for the words conveyancing in Bookham it shows results of many conveyancersin the vicinity. With so much choice what is the best way to find the suitable solicitor for purchase transaction?
The preferential method of choosing a suitable conveyancer is via trusted recommendation, so seek the guidance of friends and family who have purchased a property in Bookham or a local estate agent or financial adviser. Fees for conveyancing in Bookham differ, so it's sensible to obtain at least three estimates from varying types of solicitors. Make sure that you clarify that the fees are fixed.
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Bookham. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Bookham ?
Most houses in Bookham are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. We note that you are buying in Bookham so you should seriously consider looking for a Bookham conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.
Bookham Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying
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If a Bookham lease has less than 80 years it will impact the marketability of the property. It is worth checking with your mortgage company that they are content with remaining years on the lease. A short lease means that you will almost definitely need a lease extension at some point and you need to have some idea of how much this will be. Remember, in most cases you will need to own the property for a couple of years in order to be legally able to extend the lease. Are any of leasehold owners in arrears of their service charge liability?