Will lawyers request money up-front when it comes to conveyancing in Bickley?
If you are buying a property in Bickley your lawyer will ask you to provide them with monies to cover the the cost of the conveyancing searches. Normally this is requested to cover the fees of the conveyancing searches. When the down payment is as part of the purchase price then this will be required shortly ahead of exchange of contracts. Any further balance that is due will be payable shortly before completion.
How does conveyancing in Bickley differ for new build properties?
Most buyers of new build residence in Bickley approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in Bickley tend to acquire the site, 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 conveyancers 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 used to new build conveyancing in Bickley or who has acted in the same development.
I opted to have a survey carried out on a house in Bickley ahead of retaining conveyancers. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some banks may not issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different instructions for example to 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 help as they are used to dealing with flying freeholds in Bickley. Conveyancing will be smoother if you use a solicitor in Bickley especially if they are acquainted with such properties in Bickley.
My uncle has suggested that I instruct his lawyers for conveyancing in Bickley. Do I follow his recommendation?
There are no two ways about it it’s preferable to find a conveyancing lawyer is to seek referrals from friends or family who have actually previously instructed the conveyancer you're are thinking of instructing.
I've found a house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Bickley. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
The majority of houses in Bickley are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Bickley in which case you should be looking for a Bickley conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.
I am the leaseholder of a ground floor flat in Bickley. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
in cases where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to make a decision on the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Bickley residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The remaining number of years on the lease was 50.57 years.
A couple of weeks ago I was advised by my bank that their approved lawyers operate no completion no fee basis for conveyancing in Bickley. I had a purchase abort nevertheless the solicitors have requested search fees! They say the fees are seperate!
Bickley conveyancing search costs are disbursements not solicitors costs as these are paid to a third party.