A loan agreement from Santander for the refinancing of my 2 bedroom garden flat is expected any day now. Could you propose a low cost conveyancing solicitor in Sunbury On Thames?
You have arrived at the wrong site to search for the lowest fares for conveyancing in Sunbury On Thames. We can offer you excellent value conveyancing but our intention is not to advertise as being the cheapest. Avoid the trap of appointing organisations seducing you with low cost conveyancing in Sunbury On Thames. Optimistically, in choosing a lawyer for cheap conveyancing, you will end up with what you pay for and at worst you will end up with a hefty uplift in additional fees and still not end up with the service required.
I purchased a freehold residence in Sunbury On Thames but still charged rent, why is this and what is this?
It’s unusual for properties in Sunbury On Thames and has limited impact for conveyancing in Sunbury On Thames but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
We're in Sunbury On Thames, First time buyers purchasing with a mortgage (lender is Santander , and our lawyer is on the Santander conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Santander conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I'm converting the mortgage on my primary home to a buy to let loan with Santander and intend to use the remaining equity as a down payment on further house. The location we are interested in is Sunbury On Thames. Will your lawyers be able to act for the two mortgage companies and link together the conveyances?
Do use our search tool on this page to ensure that the conveyancers are approved by both lenders. On the basis that they are your solicitor will be able to tie up the two deals but you should have a chat with you conveyancer and communicate your expectations and requirements.
I am employed by a reputable estate agent office in Sunbury On Thames where we have witnessed a number of flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Sunbury On Thames conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
My wife and I have hit a brick wall in trying to purchase the freehold in Sunbury On Thames. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We can put you in touch with a Sunbury On Thames conveyancing firm who can help.
An example of a Lease Extension decision for a Sunbury On Thames residence is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The unexpired term was 82.93 years.
I own a leasehold flat in Sunbury On Thames. Conveyancing was finished in last year. I have heard that I should not let the the remaining lease term to fall too short. Why is that a problem?
Sunbury On Thames leasehold properties are for a fixed term - often ninety nine years when they commenced. However a significant flats in Sunbury On Thames were constructed or converted in the 60’s and so these leases now have under 80 years left to run. That may sound like plenty of time however Banks, Building Societies and other mortgage institutions on the whole need leases to have a minimum of seventy five years unexpired to be mortgageable. Accordingly when you come to sell the property you will need to extend the term of your lease if you are approaching eighty years. To optimize your property value you should be thinking about whether or not to extend your lease well in advance of selling the property. You should note that there are advantages to taking action before the lease hits eighty years as when the lease is below eighty years the amount to be paid to extend starts to increase.