We see that you have a search directory identifying solicitors on the Nationwide conveyancing panel. Do companies pay you a commission if I retain them for our own conveyancing in North Cheam?

We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in North Cheam.

I am buying a new build flat in North Cheam. How practical is it for me to do the conveyancing?

Leaving aside the complexities and merits of DIY conveyancing in North Cheam you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in North Cheam.

I am looking for a flat up to £305k and found one close by in North Cheam I like with a park and transport links nearby, the downside is that it's only got 52 years on the lease. I can't really find anything else in North Cheam suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?

Should you need a home loan the shortness of the lease will be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.

Should I be wary about estate agents that I am dealing with are recommending a nationwide conveyancing firm as opposed to a local North Cheam conveyancing firm?

As with many service providers, often suggestions from connections can be extremely useful or valuable. Nevertheless there are numerous players in a conveyancing matter; estate agents, financial adviser and lenders may suggest solicitors to select. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there may be a commercial relationship behind the recommendation. You have the right to appoint your own lawyer. Don't forget that the majority of mortgage providers specify a panel list of lawyers you are obliged to use for the lender related work in your home move.

I own a leasehold flat in North Cheam. Conveyancing was finished in last year. I have been told that I should not allow the lease length get too short. Why is that a problem?

North Cheam leasehold properties are for a set period - usually just under one hundred years when they started. However a significant appartments in North Cheam were built or converted 25 or more years ago and so these leases now have less than eighty years remaining. That may sound like plenty of time but Banks, Building Societies and other mortgage companies tend to require leases to have at least seventy five years remaining to be mortgageable. This means that when you come to sell the property you will need to extend the term of your lease if you are approaching eighty years. To increase the marketability of your property you should be considering whether to extend your lease well in advance of selling the property. Furthermore strong financial reasons to doing so before the lease hits 80 years as when the lease falls below eighty years the premium to be paid to extend starts to get a lot more expensive.