My wife and I are buying a 1 bedroom flat in Hindhead with a mortgage. We would like to retain our Hindhead solicitor, but the lender says she’s not on their "panel". It appears that we have no choice but to use one of the lender panel conveyancing practices or continue with our Hindhead solicitor as well as pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Hindhead conveyancing lawyer to apply to be on the conveyancing panel.
We were just about to sign contracts for a property in Hindhead. We encountered a problem. Our mortgage offer with Birmingham Midshires expires on 9/1/2026 but the owners are suggesting a completion date of 13/1/2026. Can one prolong the loan offer?
The person best placed to deal with your question is your solicitors who should calculate whether they better off negotiating with the mortgage company, seller’s representatives, selling agents or indeed all three taking into account the circumstances your house move as of today.
What is the difference between a licensed conveyancer and conveyancing solicitor in Hindhead
Two types of professional can carry out conveyancing in Hindhead namely licenced conveyancers or solicitors. The two can administer conveyancing services that required to complete the sale or acquisition of property. They are both duty bound to execute Hindhead conveyancing on similar quality and guidelines so you may be sure that your conveyancing will be professionally conducted and that all requisite procedures will be appropriately attended to.
I have paid off my mortgage with Virgin Money. I assume I don't need a Hindhead conveyancing practitioner on the Virgin Money panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
Completion of my purchase has taken place for my property in Hindhead. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
What will a local search inform me regarding the house my wife and I purchasing in Hindhead?
Hindhead conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search organisations for example Onsearch The local search plays a central role in many a Hindhead conveyancing purchase; as long as you don’t want any nasty once you have moved into your new home. The search should reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
I am looking at a two flats in Hindhead both have approximately 50 years unexpired on the lease term. should I be concerned?
There is no doubt about it. A leasehold apartment in Hindhead is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. The majority of buyers and banks, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hindhead conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the registered owner of a garden flat in Hindhead, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Hindhead with over 90 years remaining are worth £179,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ends on 21st October 2082
You have 57 years remaining on your lease we estimate the price of your lease extension to range between £26,600 and £30,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
Our solicitor in Hindhead has identified a a legal deficiency with the lease for the property we are buying in Hindhead. The seller’s lawyers have put forward defective title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer has advised that as he is on the mortgage company conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or the mortgage company?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Hindhead conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the mortgage company are the client. The appropriate lender requirements must be adhered to by the bank conveyancing panel who has to balance acting for you and the lender