We are intending to acquire a 3 bedroom flat in Leatherhead with a mortgage. We would like to retain our Leatherhead solicitor, but the lender says he's not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or keep our Leatherhead lawyer as well as pay for one of their panel ones to represent them. We feel that this is unjust; can we not demand that the mortgage company use our Leatherhead property lawyer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Leatherhead conveyancing lawyer to apply to be on the conveyancing panel.
I am soon to exchange buying a property in Leatherhead but as a consequence of damage from the recent storms I have managed to agree compensation from the current proprietors in the sum of £3k by way of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process but Santander will not agree to this. Why were they involved?
Your conveyancing practitioner that is on a Santander conveyancing panel is required to inform Santander of any variations to the sale price. If you were to refuse your lawyer to report the price change to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new conveyancer for your conveyancing in Leatherhead.
I am considering applying for a Nationwide mortgage for purchase of a newly converted (under development) in Leatherhead with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Nationwide ?
In theory, you could use a solicitor that is not on the Nationwide conveyancing panel, but Nationwide 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 used Arc property Solicitors a few years past for my conveyancing in Leatherhead. Now, I need the documents but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Leatherhead of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a flat up to £235,500 and identified one close by in Leatherhead I like with a park and station in the vicinity, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Leatherhead for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage the shortness of the lease will likely be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities 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 solicitor about this.
I am in need of some leasehold conveyancing in Leatherhead. Before diving in I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Leatherhead - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leatherhead Leasehold Conveyancing - A selection of Queries Prior to buying
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For most Leatherhead leaseholds the cost for major works tend not to be included within maintenance charges, albeit that there some managing agents in Leatherhead require leaseholders to pay into a reserve fund and this is used to offset against larger repairs or maintenance. How much is the maintenance charge and ground rent on the property? Is anyone aware of any major works in the near future that could add a premium to the maintenance charges?