My fiance and I are planning to acquire a house in Fetcham and are in fact using a Fetcham conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Bank of Ireland have this morning contacted us to inform me that they have now hit a problem as our Fetcham conveyancer is not on their approved list of lawyers. Please explain?
If you are buying a property needing a mortgage it is standard for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Fetcham lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
We are about to exchange contracts for a leasehold flat in Fetcham. We have hit a snag. Our mortgage offer with Nationwide Building Society expires on 18/3/2025 but the sellers are putting forward a completion date of 20/3/2025. Is it possible to extend the loan offer?
The best person to deal with your issue is your lawyer who will calculate whether they better off negotiating with the mortgage company, vendor’s representatives, selling agents or possibly all three given what has gone on in your house move to date.
We are looking to buy a flat and need a conveyancing solicitor in Fetcham who is on the Leeds Building Society solicitor panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Leeds Building Society . We don't recommend any particular firms conducting conveyancing in Fetcham.
Will my solicitor be raising enquiries about flooding as part of the conveyancing in Fetcham.
Flooding is a growing risk for conveyancers dealing with homes in Fetcham. Plenty of people will purchase a house in Fetcham, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a number of checks that may be undertaken by the purchaser or by their solicitors which can give them a better appreciation of the risks in Fetcham. The conventional set of completed inquiry forms sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the vendor to discover whether the property has suffered from flooding. If flooding has previously occurred which is not revealed by the owner, then a buyer could issue a legal claim for losses resulting from an incorrect answer. A buyer’s conveyancers should also commission an enviro report. This will disclose whether there is a recorded flood risk. If so, additional investigations should be conducted.
The estate agent has sent us the confirmation of our purchase of a new build flat in Fetcham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Fetcham
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants.
Due to sign contracts shortly on a ground floor flat in Fetcham. Conveyancing solicitors inform me that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Fetcham should include some of the following:
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Additions to the premises if lease caters for for a reserve account for major works? Repair and maintenance of the premises You should know whether the lease allows you to change or upgrade anything in the property- you must be made aware as to whether it relates to all alterations or limited to structural alteration, and whether licences for alterations is mandated necessary The physical ownership of the demise. This may be the apartment itself but could also include a roof space or cellar if applicable.
I purchased a 1 bedroom flat in Fetcham, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Similar flats in Fetcham with an extended lease are worth £211,000. The ground rent is £45 invoiced annually. The lease finishes on 21st October 2092
You have 67 years unexpired we estimate the price of your lease extension to span between £10,500 and £12,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered 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.