Why is leasehold purchase conveyancing in Horsham costs more?
In short, leasehold conveyancing in Horsham and West Sussex usually warrants more due diligence compared to freehold conveyancing. This includes reviewing the lease, communicating with the landlord concerning the service of appropriate notices, securing up-to-date service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first entered into.
Do I need to pop into the offices of the solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Horsham so that I can attend their offices if necessary.
As opposed to 15 years ago, the vast majority lenders no longer require their conveyancing panel lawyer to witness the borrowers signature. It will still be necessary for you to provide identification documents and there are still manifest benefits to instructing a locally based ayer, in your case a conveyancing solicitor in Horsham.
Two weeks ago we had a mortgage agreed in principle with Aldermore. Horsham conveyancing solicitors were selected. What is the average time that one could expect to receive a mortgage offer from Aldermore?
Some lenders take longer than others. Have Aldermore conducted the valuation? Have you informed Aldermore as to your lawyers' details and checked that your lawyers are on the Aldermore conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Horsham building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Horsham conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend based on their specific requirements. Who do I believe?
As long as the conveyancing practitioner is on the bank approved list, she or he must follow the Council of Mortgage Lenders’ Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am due to exchange contracts on my flat. I had a double glazing fitted in March 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nationwide are being a right pain. The Horsham solicitor who is on the Nationwide conveyancing panel is saying indemnity insurance will be fine but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I opted to have a survey completed on a house in Horsham in advance of retaining lawyers. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some mortgage companies may not issue a loan on this type of house.
It depends who your proposed lender is. HSBC has different instructions from Nationwide. Should you wish to call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Horsham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Horsham to see if the conveyancing will be more expensive.
How easy is it to transfer to a new firm as I have to retain one who is on the Barclays conveyancing list. I had appointed a high street conveyancing solicitor in Horsham round the corner but she is not accepted by Barclays
We will our best to assist in finding you a conveyancing solicitor in Horsham on the Barclays panel. Please note that the law firms that we list do not pay us commission if you instruct them and are fully regulated by the SRA who oversee all conveyancing solicitors in Horsham. In making use of the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Horsham.