Is there a reason why leasehold purchase conveyancing in Lound costs more?
The conveyancing costs on a leasehold premises in Lound is often greater when contrasted to a freehold residence. This is due to the additional time necessary in corresponding with the freeholder and managing agents to collate the information concerning whether the rent and maintenance charges have been cleared and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
I am about to put an offer on a leasehold apartment in Lound. The property agents say that it is the norm for flats in Lound to have less than 75 years left on the lease. I am obtaining a loan with Virgin. Is this going to be acceptable if the lease has 72 years remaining.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 2/6/2025 the requirements read as follows :
What can a local search reveal regarding the property I am purchasing in Lound?
Lound conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company for example Searches UK The local search plays an important part in most Lound conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search should supply data on, amongst other things, details on planning applications relevant to the premises (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 areas.
The deeds to our property are lost. The lawyers who dealt with the conveyancing in Lound 5 years ago no longer exist. What do I do?
Gone are the days when you need to hold title deeds to prove you are the registered proprietor of land or premises, given that the Land Registry have everything they need in a digital format.
I was pointed in your direction by a few selling agents in Lound to select a conveyancer using your seach tool. What’s the financial incentive for Estate Agents to offer your services over alternative conveyancing organisations?
We refuse to give any financial incentive for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My 20yr old son is about to join the property ladder, he had his mortgage in principle. After the offer was accepted on flat we called the mortgage company to progress the mortgage application. I was shocked to learn that mortgage lenders do not accept all conveyancer, they have to be on a list, is this right?
Lenders tend to imposes restrictions either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Lound lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.