My previous lawyer has given a fee estimate £1400 for fixed fee conveyancing in Caister On Sea. I’m looking to sell a modern property for £125,000. This sounds over the top. Is it above what I should be paying for conveyancing in Caister On Sea?
The charges are a tad high. If you shop around you may be able to trim some of the expense by as much as £125. On the other hand, you mightcome to rue choosing an a cheaper solicitor. Remember to enquire the conveyancer can also act for your lender. You can make use of our comparison tool to find a Caister On Sea conveyancing practice on the lender’s approved list of lawyers which can often include conveyancing solicitors in Caister On Sea.
I have given 8 weeks notice to my existing landlord and have to be out of my rented flat in Caister On Sea by the end of next month. Conveyancing on my purchase has just started. Is it possible to complete in 4 weeks as I wish to avoid having to move into short term accommodation?
It is unwise to give notice on a rental until your lawyer suggests that you should. If you have not already done so, notify to your conveyancer and request that they cajole the owners lawyers, try to get a realistic time scale from them that all parties will aim towards
I have 71 years unexpired on my lease and require a lease extension for my flat in Caister On Sea. Conveyancing solicitors on the The Mortgage Works panel can deal with such extensions right?
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 4/6/2025 the requirements read as follows :
Where the unexpired lease term is different to that recorded on the mortgage offer, the following clarifies if we need to be informed:
Second hand property:
- If the unexpired lease term on the offer is 85 years or more - only advise us if the actual lease term is less than 85 years
- if the unexpired lease term on the offer is less than 85 years – advise us if the actual lease term is different than reported
- For equity share applications - advise us if the actual lease term is different than reported on the offer
New build property:
- If the unexpired lease term stated on the offer is 125 years (flat) / 250 years (house) or more - only advise us if the actual lease term is less than 125 years (flat) / 250 years (house)
- For equity share applications - always advise us if the actual lease term is different than reported on the offer
Lease terms such as ground rent and event fees must be reasonable at all times during the term of the lease and adhere to our requirements below. If you’re unsure as to whether the terms of a lease are unreasonable or onerous, please refer the details to us in plain English for Valuer consideration. If the potentially onerous terms are in relation to the ground rent please include the current ground rent figure per annum, how often it will be reviewed and the price structure it will be reviewed against. See the guidance below.
SECOND HAND PROPERTIES
Unacceptable - advise Issuing Office (Will be declined):
- Unexpired lease term less than 70 years
- Less than 30 years remaining at the end of the mortgage term
- Ground Rent greater than 0.5% of the property value
- Ground Rent doubles less than every 20 years (e.g. doubles every 5, 10 or 15 years) - acceptable if doubles every 20 years or more
- Ground Rent is compounded RPI
- Ground Rent review period less than or equal to 5 years
Refer to Issuing Office (Valuer will consider any impact on valuation figure and marketability):
- Unexpired lease term is 70 to 85 years
- Ground Rent greater than 0.1% and less than or equal to 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 greater than 5 and less than 10 years
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges greater than £500 p/a (please provide details of what the charges cover)
- Service Charges greater than 1.0% 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 Issuing Office):
- Unexpired lease term greater than 85 years
- Ground Rent less than or equal to 0.1% of the property value
- Ground Rent review period greater than or equal to 10 years
- Ground Rent escalation less than or equal to RPI
NEW BUILD PROPERTIES (includes office conversions)
Unacceptable - advise Issuing Office (will be declined):
- Unexpired lease term less than 125 years on a new build flat or less than 250 years on a new build house
- Any lease which is subject to a ground rent (or annual rent) being charged which is more than on a peppercorn basis
- Any lease which is subject to a ground rent (or annual rent) being reviewed and altered on any review basis or methodology
Refer to Issuing Office (Valuer will consider any impact on valuation figure and marketability):
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges greater than £500 p/a (please provide details of what the charges cover)
- Service Charges greater than 1.0% 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 Issuing Office):
- Unexpired lease term greater than or equal to 125 years on a new build flat or greater than or equal to 250 years on a new build house
- A lease subject to a peppercorn ground rent (annual rent) charges
For the avoidance of doubt, any new build properties completed but not sold pre 30 June 2022 will only be acceptable if the lease conforms to the above guidance
* 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
LEASE EXTENSIONS
We require all lease extensions to be completed under the Leasehold Reform Housing and Urban Development Act 1993 and to meet the above criteria as a minimum. Where you become aware that it does not meet these requirements, please refer to the Issuing Office
Please ensure that all lender enquiries are submitted (with full documentation/requirements) at least 2 weeks prior to exchange to allow sufficient time for review and decisioning.
My bid for a property was accepted at auction in Caister On Sea. Conveyancing is required. What is next?
Having legally committed yourself to purchase you will need to retain a conveyancing lawyer soon as you are faced with a pending a drop dead date to complete the deal. All auction property will have a bespoke auction pack. This will likely include most,if not all of the paperwork that your conveyancer requires. If you have purchased leasehold property the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You must pass this on to your appointed conveyancing solicitor as soon as possible. You also need to ensure that that you have the requisite funding organised to complete on the date specified in the contract.
Last month we had a mortgage agreed in principle with Santander. Caister On Sea conveyancing practitioners are appointed. What is the average time that one could expect to receive a mortgage offer from Santander?
There is no definitive answer here. Have Santander conducted the valuation? Have you advised Santander as to your lawyers' details and checked that your lawyers are on the Santander conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
After much negotiation I have agreed a price on a house in Caister On Sea. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an advanced payment of £225. A couple of days later, the lawyer contacted me sheepishly admitting that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am looking for a flat up to £305k and found one close by in Caister On Sea I like with open areas and railway links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Caister On Sea for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the shortness of the lease may be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
My husband and I are a couple of weeks into a residential purchase having been recommend to a firm by the estate agent to handle our conveyancing in Caister On Sea. We are not happy. Could you you assist me in finding new lawyers?
They would need to be really bad in order to consider changing them. Has your mortgage offer been sent? In the event that it has you will need to advise them of the replacement solicitor and have the mortgage documents are re-issued. The solicitor ideally needs to be on the banks panel to avoid escalating costs and delays. That should be your starting point. Our search tool should assist you in finding a lender approved lawyer for your conveyancing in Caister On Sea