I'm the only beneficiary of my late mum's will with all property in now in my sole name, including the my former home in Cranleigh. The Cranleigh property was put into my name in January. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership could be treated the same way as if I'd bought the house in January. Do I have to wait 6 months to sell?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. How sensible a view lenders take of it, depend on the mortgage company as this clause chiefly exists to capture subsales or the flipping of property.
Planning on purchasing a apartment in Cranleigh. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Santander 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 Cranleigh property lawyer is on the Santander conveyancing panel.
Virgin Money have agreed my mortgage in principle, my offer on a flat in Cranleigh has been agreed to, what are the next steps?
The property agent will need to know who your solicitors are (make sure the solicitors are on the lender’s panel). Call up Virgin Money or the financial adviser and finish off any appropriate paperwork. Virgin Money will sellect a valuer who will get in touch with the estate agent or vendor to arrange a slot for the valuation to take place. Once carried out (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Virgin Money will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Cranleigh.
I used Action Conveyancing a few years past for my conveyancing in Cranleigh. Now, I need the files however the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Cranleigh of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
My husband and I are 17 days into a residential purchase having been referred to a firm by the estate agent to execute conveyancing in Cranleigh. I am am starting to be frustrated with the quality of service. Could you you assist me in finding new solicitors?
They would have to be very bad in order to consider changing them. Has your mortgage offer been sent? If so you need to make them aware of the replacement conveyancer and ensure the mortgage documents are issued to the new lawyers. The conveyancer needs to be on the lenders approved list to avoid added expenses and complications. So that should be your starting point. The find a solicitor tool can help you find a bank approved solicitor for your home move in Cranleigh
Can you provide any advice for leasehold conveyancing in Cranleigh with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Cranleigh can be bypassed where you get in touch lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers’ solicitors. If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Cranleigh leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. If you dont have the approvals in place you should not contact the landlord without contacting your conveyancer in advance. You may think that you are aware of the number of years left on your lease but you should verify this by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 80 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. Some Cranleigh leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
I acquired a leasehold flat in Cranleigh, conveyancing formalities finalised 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Cranleigh with an extended lease are worth £185,000. The ground rent is £65 yearly. The lease finishes on 21st October 2085
You have 60 years left to run we estimate the price of your lease extension to range between £20,000 and £23,000 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
My partner is buying a leasehold flat in Cranleigh. He has received an estimate by the solicitor recommended by the estate agents and it came to £1385 . It was eight years ago since I sold and purchased a home and the bill was £495. Have fees really gone up that much?
We would recommend that you call two or three local Cranleigh conveyancing solicitors seeking estimates. You should base your choice not only on cost, but on promptness and on how comprehensive the reply is.