A loan offer from NatWest for the remortgage of my 4 bedroom garden flat is coming within the next few days. Are you able to suggest a low cost conveyancing solicitor in Hedge End?
You have arrived at the wrong site to search for the lowest fares for conveyancing solicitors in Hedge End. Our aim is to provide excellent value conveyancing but our intention is not to work with the cheapest lawyers. Resist the temptation to appoint organisations offering ninety nine pound conveyancing in Hedge End. In your best case scenario, in being led by low cost conveyancing, you will receive what you pay for and at worst you will end up paying a lot in additional fees and still not get the service required.
My conveyancer has discovered a a legal deficiency with the lease for the property we are buying in Hedge End. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancing practitioner has advised that he must be satisfied that the mortgage company is happy with this solution. Who is the client here, us or the lender?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
I purchased a freehold property in Hedge End but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Hedge End and has limited impact for conveyancing in Hedge End but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I am considering applying for a RBS mortgage for purchase of a newly converted (under development) in Hedge End with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for RBS ?
In theory, you could use a solicitor that is not on the RBS conveyancing panel, but RBS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I have been on the look out for a ground for flat up to £195,000 and identified one near me in Hedge End I like with a park and station nearby, however it only has 52 years on the lease. There is not much else in Hedge End for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will likely be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
Online reading suggests that Hedge End solicitors are more expensive than Hedge End conveyancers in Hedge End when it comes to purchasing a house. So is it better if I use a conveyancer or a solicitor if I am buying for my home move in Hedge End.
When it comes to conveyancing in Hedge End the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.