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Find a Summertown and Botley Conveyancing Solictior on Your Lender’s Panel

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

Only LenderPanel.com provides a subset of authorised Summertown and Botley conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Summertown and Botley

My lawyer has uncovered a defect with the lease for the flat we are purchasing in Summertown and Botley. The other side have suggested defective title insurance as a solution. We are content with insurance and will pay for it. Our lawyer has advised that he must check that the mortgage company is content with this solution. Are we the client or is the bank?

Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the lender are the client. These conveyancing instructions have to be complied with.

I purchased a freehold property in Summertown and Botley yet invoiced for rent, why is this and what is this?

It is rare for properties in Summertown and Botley and has limited impact for conveyancing in Summertown and Botley but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.

Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.

I decided to have a survey carried out on a house in Summertown and Botley ahead of instructing solicitors. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some lenders will refuse to issue a mortgage on this type of premises.

It varies from the lender to lender. Santander has different instructions for example to Halifax. If you e-mail us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Summertown and Botley. Conveyancing will be smoother if you use a solicitor in Summertown and Botley especially if they are accustomed to such properties in Summertown and Botley.

Last June I purchased a leasehold flat in Summertown and Botley. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I inherited a 2 bed flat in Summertown and Botley, conveyancing having been completed in 1998. Can you work out an approximate cost of a lease extension? Corresponding properties in Summertown and Botley with a long lease are worth £170,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2102

You have 78 years unexpired we estimate the price of your lease extension to span between £7,600 and £8,800 plus professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

Can a conveyancer remove a person from the title of my home in Summertown and Botley ?

Extracting or adding someone to the title of your house is relatively straightforward. You’ll need to appoint a property lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a property lawyer

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