I just acquired a flat at auction in Shillington. Conveyancing is needed. What is next?
Given that you have now legally committed yourself to purchase you should instruct a conveyancing practitioner soon as you will have a tight a drop dead date to complete the property. An auction property will have a corresponding auction set of papers. This will likely include most,if not all of the paperwork that your solicitor will need. If you have purchased leasehold premises the auction papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to a leasehold property. You should give this to your appointed conveyancing solicitor as soon as possible. You also need to ensure that that you have the requisite funding in place to complete the transaction on the set completion date.
After weeks of negotiation I have agreed a price on an apartment in Shillington. My financial adviser pressured me to appoint their solicitor. I paid an advanced payment of £200. Shortly after, the property lawyer called me embarrassingly acknowledging that they were not on the Aldermore conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Aldermore panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Our sealed bid on a semi in Shillington has been agreed to, the sellers do nevertheless have a connected purchase. The vendors have offered on a flat, however it’s not yet agreed to, and are looking at other apartments in the pipeline. I have chosen a high street conveyancing solicitor in Shillington. What should be my next step? At what point do I apply for the mortgage with Santander?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then survey, Shillington conveyancing search fees, etc). The first course of action is to check that your property lawyer is on the Santander conveyancing panel. As to the next phase this very much dictated by the circumstances of your transaction, desire for this property and on the state of the market. During a buoyant market the majority of buyers will apply for the mortgage with Santander and arrange for the valuation and only if it comes back ok would they ask their conveyancer to proceed with the conveyancing in Shillington.
How does conveyancing in Shillington differ for new build properties?
Most buyers of new build residence in Shillington approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Shillington typically buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Shillington or who has acted in the same development.
I am looking for a flat up to £235,500 and found one close by in Shillington I like with a park and station nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Shillington suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage that many years will be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you can request that they start the process of the extension and pass 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 concerning this matter.
I was advised by three or four local estate agents in Shillington to get a quote from a conveyancer using your seach tool. What’s the financial advantage for Estate Agents to market your services over and above another?
We refuse to give any financial incentive for sending work our way. We found it would be just too difficult a fee as a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
Jane (my partner) and I may need to let out our Shillington garden flat temporarily due to a new job. We used a Shillington conveyancing practice in 2001 but they have closed and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?
The lease dictates the relationship between the landlord and you the leaseholder; in particular, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Shillington do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
Shillington Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing
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How many years are left on the lease? Can you inform me if there are any major works in the planning that could add a premium to the service costs? The answer will be useful as a) areas could cause problems for the block as the common areas may begin to deteriorate where services remain unpaid b) if the leaseholders have an issue with the running of the building you will need to have complete disclosure
Do I have to visit the offices of the lender conveyancing panel solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Shillington as it will be easier to attend their offices if required.
As opposed to 12 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Shillington.