My husband and I are intent on buying a ground floor flat in Lewes. My Conveyancer has never been on on the bank conveyancing list. Is it possible for me to retain my Lewes conveyancing solicitor notwithstanding that they are not on the mortgage company approved list?
One must instruct a lawyer to deal with the formalities if you require a loan to buy your property. The conveyancer will carry out all the necessary investigations on the property, ensuring that you will be properly registered as the owner and ensure that all the necessary mortgage paperwork is dealt with. One may select a Lewes solicitor of your choice. Nevertheless, where the property lawyer selected is not a member of the mortgage company conveyancing panel supplemental costs will be levied as separate legal representation will be required by them. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they should do so.
We previously selected conveyancing lawyers with offices in Lewes on the HSBC solicitor panel. They have just billed me an additional fee for the legal aspects of the HSBC mortgage. Is this an additional conveyancing fee specified by HSBC?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your solicitor can levy a fee for this. This fee is not dictated by HSBC but by your Lewes conveyancer. Plenty of firms on the HSBC panel will levy ’dealing with mortgage’ fee but some firms incorporate it on their overall fee.
How can we know in advance if a Lewes conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in Lewes seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer handling your conveyancing.
Planning on purchasing a flat in Lewes. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Lewes conveyancer is on the UBS conveyancing panel.
In scouring the world wide web for the words on line conveyancing in Lewes it brings up many solicitorslocally. With so much choice what is the best way to find the suitable conveyancing solicitor for the sale of my house?
The ideal way of choosing the right conveyancer is via personal recommendation, so ask friends and those you trust who have acquired a property in Lewes or the reputable estate agent or financial adviser. Charges for conveyancing in Lewes vary, so it's advisable to request at least four costs illustrations from different solicitors. Be sure to secure confirmation what costs in the quote includes.
I am attracted to a two maisonettes in Lewes both have about 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Lewes is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. For most buyers and mortgage companies, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Lewes conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I inherited a 1st floor flat in Lewes, conveyancing formalities finalised April 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Lewes with a long lease are worth £176,000. The ground rent is £50 yearly. The lease ends on 21st October 2076
With 50 years remaining on your lease we estimate the price of your lease extension to span between £31,400 and £36,200 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
My offer on house in Lewes was accepted, but there is a chain. The owners have offered on a flat, however it’s not been accepted yet, and are looking at other flats booked. I have instructed a local conveyancing lawyer in Lewes. What do I do now? When should I get the mortgage application with Principality going with Principality?
It is usual to have apprehensions where there is an associated chain as you are unlikely to want to incur costs prematurely (mortgage application is approx one thousand pounds, then valuation, Lewes conveyancing search charges, etc). First, you should ensure that your lawyer is on the Principality approved list. Concerning the subsequent stages this very much dictated by the uniqueness of your case, desire for the property and on the state of the market. During a rising market many purchasers would apply for a home loan with Principality and pay for the survey and only if it comes back ok would they pay their solicitor to press on with the conveyancing in Lewes.