Can you explain why leasehold purchase conveyancing in East Dean is more expensive?

East Dean leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

When it comes to lenders such as RBS, do East Dean conveyancing practitioners have to pay an annual charge to be on the list of approved solicitors?

We are not aware of any bank fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.

We expect to receive a AIP from Coventry BS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Coventry BS recommend any East Dean solicitors on the Coventry BS conveyancing panel, or is it better to find our own lawyer?

You will need to appoint East Dean solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.

Kent Reliance have agreed my home loan in principle, my bid on a house in East Dean has been agreed to, now what?

The property agent will wish to know who your solicitors are (ensure that the lawyers are on the bank’s approved list). Contact Kent Reliance or the financial adviser and complete any appropriate forms. Kent Reliance will instruct a valuer who will get in touch with the estate agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Kent Reliance will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in East Dean.

I'm purchasing a new build house in East Dean benefiting from help to buy. The builders refused to move on the amount so I negotiated £7000 of extras instead. The property agent told me not to tell my lawyer about this side-deal as it could put at risk my loan with the lender. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one round the corner in East Dean I like with a park and station nearby, however it only has 61 years unexpired on the lease. I can't really find anything else in East Dean for this price, so just wondered if I would be making a mistake acquiring a short lease?

If you need a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.

I was pointed in your direction by a number of estate agents in East Dean to choose a conveyancer using your seach tool. Is there a financial upside for Estate Agents to promote your lawyers over another?

We refuse to give any commission for pointing buyers and sellers our way. We found it would be just too difficult to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.