Just contacted my conveyancing lawyer in Bispham who acted for me 18 months ago and wanted a conveyancing estimate based on the same type of house sale & purchase (a leasehold residence and a freehold property) of similar values with a loan from Santander. It looks as though am now being charged twice the amount. Better the devil I know or should I seek out a cheaper online conveyancer?
The quote is fractionally on the high side. If you shop around you could get the conveyancing a bit cheaper by say a hundred pounds. That being said, if you were content with the service the firm offered you maycome to regret opting for an an untested solicitor. If is important to check the firm can also act for Santander. You can use our search tool to find a Bispham conveyancing firm on the Santander approved list of lawyers, which can often include conveyancing solicitors in Bispham.
Can you explain why leasehold purchase conveyancing in Bispham is more expensive?
Bispham leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I am considering applying for a Coventry BS mortgage for purchase of a new build (under development) in Bispham with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Coventry BS ?
In theory, you could use a solicitor that is not on the Coventry BS conveyancing panel, but Coventry BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Bispham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Bispham
-
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are surveyor prepared.
I decided to have a survey completed on a property in Bispham ahead of instructing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some banks may refuse to give a mortgage on a flying freehold home.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. If you call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bispham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bispham to see if the conveyancing costs will increase in light of this.
I'm remortgaging my existing house to a BTL mortgage with Barclays and intend to use the remaining equity towards another property. The neighborhood we are looking at is Bispham. Will your solicitors be able to act for the two mortgage companies and tie in the transactions?
Do use our comparison tool on this page to ensure that the lawyers are on the relevant lender panels. Having checked that they are your solicitor should be able to simultaneously deal with the two transactions but you should have a chat with you lawyer and make clear your expectations and needs.