I am only a couple days away from an exchange on a property in Fleet and my mum and dad have sent the exchange deposit to my conveyancer. I am now informed that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I advised the bank about my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?
Your conveyancer is obliged to clarify with lender to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Are the BSA planning on creating a online directory to list law firms on the Melton Mowbray Building Society conveyancing panel for instance in Fleet?
We are not aware of any intention on the part of the BSA to develop such a tool.
I can not fathom 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 Fleet building society branch on various occasions and was told it wasn't an issue and they would lend. My Fleet conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
The solicitor must follow the Council of Mortgage Lenders’ Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the bank 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.
My offer was accepted on an apartment in Fleet on 14/5/2025, valuation was booked 2 days later, received a clean bill of health. Property lawyer retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Aldermore and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Aldermore conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
My offer on a house in Fleet has been agreed to, the owners do however have a dependent purchase. The vendors have placed an offer on a flat, however it’s not been accepted yet, and have viewings of other flats in the pipeline. I have selected a nearby conveyancing solicitor in Fleet. What should be my next step? At what point should I apply for the mortgage with Kent Reliance?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then survey, Fleet conveyancing search charges, etc). The first course of action is to ensure that your conveyancing practitioner is on the Kent Reliance approved list. Regarding the subsequent stages this very much dictated by the uniqueness of your transaction, desire for the property and on the state of the market. During a buoyant market the majority of purchasers would apply for a home loan with Kent Reliance and pay for the valuation and only if it comes back ok would they request their solicitor to move forward with searches.
Should our solicitor be asking questions regarding flooding during the conveyancing in Fleet.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Fleet. Plenty of people will purchase a property in Fleet, completely aware that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, however there are a numerous checks that may be initiated by the purchaser or by their solicitors which can give them a better appreciation of the risks in Fleet. The standard completed inquiry forms supplied to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the vendor to find out whether the premises has historically flooded. If flooding has previously occurred which is not notified by the owner, then a buyer could commence a legal claim for losses resulting from an misleading reply. The purchaser’s lawyers may also order an environmental report. This will reveal whether there is a recorded flood risk. If so, further investigations will need to be carried out.
I decided to have a survey carried out on a house in Fleet before retaining solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some banks may not grant a loan on such a premises.
It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. If you e-mail us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Fleet. Conveyancing will be smoother if you use a solicitor in Fleet especially if they are familiar with such properties in Fleet.
I own a leasehold house in Fleet. Conveyancing and Leeds Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Fleet who previously acted has now retired. Do I pay?
First contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Fleet conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a ground floor flat in Fleet, conveyancing was carried out October 2007. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Fleet with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2079
You have 54 years remaining on your lease we estimate the premium for your lease extension to be between £32,300 and £37,400 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.