I am obtaining a offer of a home loan from Santander. I would like to retain the legal services of a Licensed Conveyancer in Hedge End. Does the Santander Conveyancing panel exclude Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My son is purchasing a new build apartment in Hedge End with a home loan from Nottingham. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nottingham conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
How does conveyancing in Hedge End differ for new build properties?
Most buyers of new build residence in Hedge End come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in Hedge End typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Hedge End or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in Hedge End I like with a park and station nearby, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Hedge End for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the remaining unexpired lease term will be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
I have just started marketing my basement apartment in Hedge End. Conveyancing lawyers have not yet been instructed, but I have just had a yearly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as you normally would because all rents and service invoices will be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Hedge End Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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It is important to be aware if redecorating or some other significant cost is coming up to be shared by the tenants and will materially impact the level of the service costs or result in a specific payment. What is the name of the managing agents? The prefered form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this scenario the tenants enjoy control and notwithstanding that a managing agent is usually retained where it is larger than a house conversion, the managing agent is directed by the tenants.
Are you able recommend a good conveyancing practitioner to do the purchase of a maisonette in Hedge End. With any luck we will purchase the flat for £165000 with a mortgage from Yorkshire BS. We live in Hedge End but dont mind where they are.
LenderPanel.com is limited to being a directory service for conveyancing practitioners who wish to be listed as being on the approved conveyancing panel for Yorkshire BS in certain locations for instance Hedge End . Our intention is not to recommend any particular solicitor.