My mortgage broker has requested my Longfield lawyer’ panel member for the HSBC conveyancing panel. Can you suggest how I obtain this. I have contacted my local Longfield office but they have not responded to me.
Have you tried contacting your Longfield solicitor about this?. Most Longfield law practices will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
How do I find out if the solicitor conducting my conveyancing in Longfield is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for National Westminster Bank thus paying £175.00 in additional legal costs.
Feel free to take advantage of the search tool on this web page. Please choose the lender and type ‘Longfield’ or your location and you will discover a number of lawyer based in Longfield or nearest you.
Will my lawyer be raising enquiries concerning flooding as part of the conveyancing in Longfield.
Flooding is a growing risk for lawyers dealing with homes in Longfield. Some people will buy a property in Longfield, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, however there are a number of searches that can be carried out by the purchaser or by their conveyancers which can figure out the risks in Longfield. The standard property information forms supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a standard inquiry of the vendor to find out whether the property has suffered from flooding. If the premises has been flooded in past which is not revealed by the vendor, then a purchaser may commence a legal claim for losses resulting from an inaccurate reply. The purchaser’s conveyancers should also order an enviro report. This should higlight if there is any known flood risk. If so, further inquiries will need to be made.
I'm buying my first flat in Longfield with the aid of help to buy. The sellers would not budge the price so I negotiated £7000 of additionals instead. The sale representative advised me not reveal to my solicitor about the deal as it will affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I'm converting the mortgage on my existing house to a buy to let mortgage with Bank of Ireland and I will use the rest of the raised equity as a deposit on another property. The area we are looking at is Longfield. Will your solicitors be able to act for the two banks and link together the transactions?
Do use our comparison tool on this site to be sure that the lawyers are on the appropriate lender panels. Assuming that they are the conveyancer will be able to simultaneously deal with the two conveyancing matters but you should talk with you conveyancer and communicate your expectations and requirements.
I am attracted to a couple of apartments in Longfield both have in the region of fifty years left on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Longfield is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat 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 Longfield conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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 purchased a leasehold flat in Longfield, conveyancing formalities finalised in 2005. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Longfield with an extended lease are worth £196,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2089
With 64 years left to run we estimate the premium for your lease extension to range between £15,200 and £17,600 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.