Why is leasehold purchase conveyancing in North Sheen costs more?
North Sheen leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My wife and I have recently appointed a conveyancing solicitor in North Sheen. I need to find out if they are on the Platform Home Loans Ltd conveyancing panel. Can you or the lender confirm if they are on the panel?
You should contact your lawyer and enquire if they are on the lender panel. Alternatively please get in touch with Platform Home Loans Ltd who may be able to confirm.
Is there a list of TSB panel solicitors in North Sheen on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association websites. Very few lenders make their panel listings visible over the internet. Where you are looking for a North Sheen property lawyer on the TSB please use our facility.
I currently have a mortgage with Santander for my property in North Sheen. Conveyancing was finalised months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Santander?
Santander must be informed of your intention prior to letting out your property as this is likely to be a breach of Santander’s mortgage conditions. It may be that Santander will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Santander directly. It should not be necessary to do this via a Santander conveyancing panel firm.
I was told two weeks ago that my mortgage has been agreed to by Santander. Is it usual for Santander to only issue the offer once my solicitor in North Sheen is approved on their conveyancing panel? Santander have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
Do I need to pay for insurance to address the risk of chancel repairs when purchasing a property in North Sheen?
Unless a previous acquisition of the house completed after 12 October 2013 you could take it that conveyancing practitioners carrying out conveyancing in North Sheen to remain recommending a chancel search and or insurance against a claim.
I am looking for a flat up to £195,000 and identified one close by in North Sheen I like with amenity areas and station nearby, the downside is that it only has 51 remaining years left on the lease. There is not much else in North Sheen for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the remaining unexpired lease term may be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
We have instructed a North Sheen conveyancing solicitor for our home move (FTB’s) and have spotted in the terms and conditions that they are not covered by the Financial Conduct Authority. Need I be concerned or is that usually the case with property lawyer?
We can't see why they should be. Most solicitor don't lend money. You should check that they are governed by the Solicitors Regulation Authority, who have stringent laws covering amounts held in their bank.