I am hoping to receive a offer of a home loan from Santander. I intend to retain the legal services of a Licensed Conveyancer in Snodland. Does the Santander Conveyancing panel allow for conveyancers regulated by the CLC?
The Santander approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Our conveyancer has uncovered a a legal deficiency with the lease for the property we are purchasing in Snodland. The seller’s lawyers have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancer says that he must ensure that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I have been on the look out for a leasehold apartment up to £305k and identified one close by in Snodland I like with amenity areas and station nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Snodland suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage that many years will be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
My husband and I are novice buyers - agreed a price, but the property agent advised that the owners will only move forward if we appoint their recommended conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a local conveyancer with experience of conveyancing in Snodland
It is improbable the vendors are behind this. If they desire ‘a quick sale', alienating a motivated purchaser is likely to cause more damage than good. Avoid the agents and go straight to the owners and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you wish to move quickly (e)however you are going to instruct your own,trusted Snodland conveyancing solicitors - not the ones that will earn their negotiator at the agency a kickback or meet his conveyancing figures demanded by senior management.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Snodland. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
Most houses in Snodland are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. It is clear that you are purchasing in Snodland in which case you should be shopping around for a Snodland conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer will appraise you on the various issues.
I own a basement flat in Snodland, conveyancing having been completed June 2012. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Snodland with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 per annum. The lease terminates on 21st October 2091
With only 65 years unexpired we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
I have just had an offer accepted on an apartment in Snodland and the mortgage adviser that we are dealing with recommended his property lawyer. He quoted nine hundred pounds including VAT and disbursements. Does this sound expensive?
Don't just go on a single quote. You should seek like-for-like quotes for your conveyancing in Snodland. Then select one that you trust and just as important, is on the approved panel of the lender that you have applied for a mortgage from.