When it comes to lenders such as Barclays, do Burton upon Stather solicitors have to pay a yearly amount to be on the conveyancing panel?
We are unaware of any lender fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
We had instructed solicitors locally in Burton upon Stather on the Santander solicitor panel. They have just billed me a supplemental sum for the legal aspects of the Santander mortgage. Is this a supplemental conveyancing fee specified by Santander?
Provided it is contained in their Terms and Conditions or estimate then yes your property lawyer can charge a fee for this. The fee is not set by Santander but by your Burton upon Stather solicitor. Plenty of firms on the Santander panel will levy an ‘acting for lender’ fee and others do not.
I have a mortgage with Kent Reliance for my property in Burton upon Stather. Conveyancing was finalised months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
Your original mortgage agreement with Kent Reliance will provide that you need their approval in advance of renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel lawyer.
My friend suggested that where I am buying in Burton upon Stather I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Burton upon Stather conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Burton upon Stather around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Burton upon Stather Education with maps and statistics, Local Amenities and other useful information about Burton upon Stather.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Burton upon Stather is where the house is located. What do you suggest?
Flying freeholds in Burton upon Stather are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Burton upon Stather you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Burton upon Stather 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.
My company is wishing to lease a unit on the high street. Can you recommend solicitors offering no-sale-no costs for commercial conveyancing in Burton upon Stather for below 2k?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Burton upon Stather, including the disposal and acquisition of businesses as well as simply premises. If you are hoping to acquire or sell a shop, pub, restaurant, office, retail unit or a whole business we will put you in touch with the right solicitor. Regarding the fees this will depend on the structure and complexity of the proposed transaction. Let us have your details or phone us so that we may supply you with a fixed commercial conveyancing calculation.
I am employed by a long established estate agency in Burton upon Stather where we have experienced a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Burton upon Stather conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I acquired a 1st floor flat in Burton upon Stather, conveyancing having been completed in 2005. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Burton upon Stather with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ceases on 21st October 2081
With only 55 years remaining on your lease we estimate the price of your lease extension to be between £31,400 and £36,200 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
Should I be worried if there is a problem with the searches conducted as part of my conveyancing in Burton upon Stather?
On the whole, most concerns disclosed in Burton upon Stather conveyancing search responses can be dealt with before completion or title insurance may be obtained. You should remember that although you intend on buying the property and might be content to live with the search results, your lender may not, and when all said and done have the final decision.