My wife and I are due to complete buying a house in Sandbanks but as a result of wreckage from some water damage at the property I have managed to agree reparation from the owner of three thousand pounds by way of a deduction in the price. I had intended this to be addressed as part of amending the contract but Barclays are not allowing this. Why were they involved?
The conveyancing practitioner that is on a Barclays conveyancing panel is duty bound to disclose to Barclays of any variations to the purchase price. If you prohibit your property lawyer to report the reduction to Barclays then they would have to discontinue acting for you. In addition, Barclays and you would have to appoint a new property lawyer for your conveyancing in Sandbanks.
I have paid off my mortgage with Co-operative. I assume I don't need a Sandbanks conveyancing practitioner on the Co-operative panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Co-operative 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 Co-operative mortgage from the register. Co-operative, 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 Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Sandbanks. I have a mortgage agreed with Principality. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
I had an offer accepted on a property in Sandbanks on 4/6/2025, valuation was booked 4 days later, received a clean bill of health. Property lawyer appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Co-operative and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Co-operative conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Co-operative to deal with your lawyer's application to be on the Co-operative conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have been told that property searches are the main cause of stalling in Sandbanks house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Sandbanks.
I am buying my first flat in Sandbanks with the aid of help to buy. The sellers would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent advised me not inform my conveyancer about this side-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 builder 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.
How do I use the search tool to choose a conveyancing practitioner in Sandbanks on the panel for my bank?
First choose a lender such as Halifax, Bank of Scotland or Barclays Direct then type in your preferred area for instance Sandbanks. Conveyancing organisations in Sandbanks and across England and Wales will then be shown.
I am tempted by the attractive purchase price for a couple of apartments in Sandbanks which have about 50 years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Sandbanks. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this area.
I purchased a 1st floor flat in Sandbanks, conveyancing having been completed 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Sandbanks with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease finishes on 21st October 2094
With 69 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.