Should lawyers ask for an advanced payment for conveyancing in Colliers Wood?
If you are buying a property in Colliers Wood your solicitor will ask you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the deposit is payable against the purchase price then this will be needed shortly ahead of exchange of contracts. The closing balance that is needed will be payable shortly before completion.
I am considering refinancing my property in Colliers Wood, does my lawyer need to be on the Leeds Building Society Solicitor panel?
There is nothing to stop you using your solicitor, but Leeds Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Just had an offer accepted on a new build apartment in Colliers Wood. Conveyancing is a frightening process 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 conveyancing.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Colliers Wood
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Due to the guidance of my in-laws I had a survey completed on a house in Colliers Wood in advance of retaining lawyers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some mortgage companies may refuse to give a mortgage on this type of house.
It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. If you call us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Colliers Wood. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Colliers Wood to see if the conveyancing costs will increase in light of this.
I am one month into a residential purchase having been directed to conveyancers by the selling agent to handle our conveyancing in Colliers Wood. We are not happy. Can you help me find new conveyancers?
They would have to be really poor in order to consider replacing them. Has your mortgage been generated? In the event that it has you must inform them of the new contact details and ensure the offer are re-sent. Your new solicitor ideally should be on the banks panel to avoid supplemental fees and complications. That should be your starting point. The find a solicitor tool should assist you in finding a bank approved solicitor for your conveyancing in Colliers Wood
I have miscalculated my finances and am a couple of grand short a 10% deposit on my flat purchase in Colliers Wood , but I still want to exchange. Do I have options?
One option is to try and accept a lower deposit. Many vendors will accept a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment