I can't travel far from Sturminster Newton. What is the rationale as to why all Sturminster Newton conveyancing practitioners aren't included on all mortgage company panels?
Before the recession most mortgage companies displayed an approach to risk which differs from the current day. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which in summary warned lenders: know the lawyers on your panel. Consequently, lenders have subsequently looked to extract more information from law firms concerning their processes and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Thousands of firms have been removed from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the criteria of volume of transactions the lenders required.
Is there a reason why leasehold purchase conveyancing in Sturminster Newton costs more?
The conveyancing charges on a leasehold premises in Sturminster Newton is often greater as compared to a freehold residence. This is due to the extra investigations necessary in corresponding with the landlord and management company to obtain information concerning whether the rent and maintenance fee have been discharged and whether there are any significant expenditure in the near future on repairs or maintenance of the block.
I am looking for a flat up to £245,000 and identified one round the corner in Sturminster Newton I like with a park and station nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Sturminster Newton suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
In what way can the Landlord & Tenant Act 1954 affect my commercial property in Sturminster Newton and how can you help?
The 1954 Act affords a safeguard to business lessees, giving them the dueness to apply to court for a new lease and continue in occupation when the lease comes to an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act for protection and help with commercial conveyancing in Sturminster Newton
I need to retain a conveyancing solicitor for my conveyancing in Sturminster Newton. I happened to stumble upon a site which seems to have the ideal offering If there is a chance to get all this stuff completed via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?