What is the best way to investigate if the solicitor carrying out my conveyancing in Surrey is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Birmingham Midshires thus paying £175.00 in another set of legal invoice.
Feel free to take advantage of the find a conveyancing panel solicitor tool on this page. Please choose the lender and type ‘Surrey’ or your preferred area and you will discover a number of lawyer based in Surrey or by proximity to you.
Various web forums that I have frequented warn that are a common reason for hinderance in Surrey house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to feature in any holding up conveyancing in Surrey.
Over the last few months I have been searching for a flat up to £195,000 and identified one close by in Surrey I like with open areas and transport links nearby, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Surrey in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you may ask them to 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 matter.
Do I need to be wary that estate agents that I am dealing with are encouraging me to use an online conveyancing firm as opposed to a High Street Surrey conveyancing practice?
As is the case with lots of professional services, often referrals from relatives can be worth their weight in gold. Nevertheless there are numerous players in a conveyancing deal; estate agents, mortgage brokers and banks may suggest lawyers to choose. Sometimes the lawyers might be known to one of the organisations as experts in their field, but sometimes there may be a commercial relationship behind the endorsement. You have the right to select your preferred lawyer. However, bear in mind that many banks specify a panel list of law firms you must use for the lender aspect of your house move.
We're FTB’s - had an offer accepted, yet the estate agent advised that the seller will only proceed if we use the agent's chosen conveyancers as they want a ‘quick sale’. My instinct tells me that we should use a family conveyancer accustomed to conveyancing in Surrey
We suspect that the seller is unaware of this requirement. Should the seller desire ‘a quick sale', alienating a serious purchaser is counter productive. Contact the sellers directly and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you are going to use your preferred Surrey conveyancing firm - not the ones that will provide the estate agent a kickback or achieve conveyancing figures pre-set by head office.
Having had my offer accepted I require leasehold conveyancing in Surrey. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is registered - and almost all are in Surrey - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a ground floor flat in Surrey, conveyancing was carried out 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Surrey with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £45 yearly. The lease finishes on 21st October 2087
With just 62 years unexpired we estimate the premium for your lease extension to be between £17,100 and £19,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.