It has come to my attention via my IFA that my Fawley property lawyer is not on the bank Conveyancing panel. How can I be sure that this is correct?
The sensible course of action for you to take is to contact your Fawley conveyancer. You lawyer should advise you of the situation. Where they are not on the panel they may recommend you to a Fawley conveyancing practice that is on the approved list of lawyers for your bank.
I have 70 years unexpired on my lease and require a lease extension for my apartment in Fawley. Conveyancing solicitors on the Tesco Bank panel can deal with such extensions correct?
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. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 27/10/2024 the requirements read as follows :
I require quick conveyancing in Fawley as I am under a deadline to complete within 3 weeks. A home loan is not required. Can I avoid the conveyancing searches to save money and time?
If.Given you are not obtaining a home loan you are at free not to do searches although no law firm would recommend that you don't. With plenty of history conveyancing in Fawley the following are examples of what can arise and adversely affect the marketability of the property: Enforcement Notices, Overdue Fees, Outstanding Grants, Road Schemes,...
I purchased a terraced Georgian property in Fawley. Conveyancing practitioner represented me and Accord Mortgages Ltd. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold with the matching property. Is it worth asking Accord Mortgages Ltd to clarify?
You should assess 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Fawley and other locations in 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 check the situation with the conveyancing practitioner who carried out the work.
I am buying my first flat in Fawley with a loan from Skipton Building Society. The developers would not budge the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not reveal to my lawyer about this extras as it may jeopardize my loan with Skipton Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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 am in need of some leasehold conveyancing in Fawley. Before I get started I require certainty as to the number of years remaining on the lease.
If the lease is registered - and 99.9% are in Fawley - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a ground floor flat in Fawley, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Fawley with over 90 years remaining are worth £170,000. The ground rent is £50 per annum. The lease terminates on 21st October 2102
With just 78 years unexpired we estimate the premium for your lease extension to span between £7,600 and £8,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.