lenderpanel

Find a Emsworth Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Emsworth? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Emsworth conveyancing at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Emsworth conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Emsworth

I am in the process of selling my house in Emsworth and the EA has just called to say that the purchasers are switching property lawyer. The excuse is that the mortgage company will only work with solicitors on their approved list. On what basis would a leading mortgage company only deal with specific lawyers rather the firm that they want to select for their conveyancing in Emsworth ?

Banks have always had panels of law firms that can act for them, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.

Mortgage companies point to the increase in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any sway in the decision.

My lawyer in Emsworth is not listed on the HSBC Bank Approved Panel. Is it possible for me to use my prefered solicitor notwithstanding that they are excluded from the HSBC Bank list of approved lawyers?

Your options are as follows:

  1. Carry on with your preferred Emsworth lawyers but HSBC Bank will need to retain a lawyer on their panel. This will inevitably rack up the overall legal fees as well as result in delays.
  2. Get a new solicitor to to deal with the purchase, not forgetting to check they are HSBC Bank approved.
  3. Persuade your HSBC Bank based solicitor to try to join the HSBC Bank panel

I have been told that property searches are the main reason for stalling in Emsworth conveyancing transactions. Is there any truth in this?

The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays in the conveyancing process. Searches are not likely to be the root cause of holding up conveyancing in Emsworth.

I am looking for a flat up to £235,500 and identified one near me in Emsworth I like with open areas and railway links in the vicinity, however it only has 51 remaining years left on the lease. I can't really find anything else in Emsworth for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?

Should you need a mortgage the remaining unexpired lease term will be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.

I only have Sixty One years remaining on my lease in Emsworth. I now wish to get lease extension but my freeholder is missing. What should I do?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to track down the freeholder. In some cases a specialist should be useful to conduct investigations and prepare a report to be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Emsworth.

I invested in buying a garden flat in Emsworth, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Emsworth with a long lease are worth £222,000. The ground rent is £50 per annum. The lease comes to an end on 21st October 2094

With just 70 years left to run the likely cost is going to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure 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 considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

Last updated

Find out more about how flying freehold can affect your the value of a property.