We went with a Costessey based solicitor for our conveyancing in Costessey today. Reviewing the small print it is apparent thatwe are liable for costs even if the sale doesn't happen. Should I go with them or select an on-line conveyancing brokerage promising no move no charge conveyancing in Costessey?
Generally there is a compromise along the lines that if "No Completion No Fee" is available then the conveyancing charges will tend to be be higher to counteract the cases that do not go ahead. Dont forget that these schemes tend not to protect you from outlay for example Costessey conveyancing search costs.
I am acquiring a house without a mortgage in Costessey. I have been living for the previous Seventeen years in Costessey. Conveyancing searches are exorbitant. As I have knowledge of the area and road intimately should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a home loan, then the vast majority of the Costessey conveyancing searches are optional. Your conveyancer will ’encourage you, perhaps strongly, that you should have searches completed, but she is duty bound to do this. Do consider; if you are likely to sell the house one day, it will likely be be of importance to your prospective buyer what the searches determine. There are plenty of instances where premises with no practical issues can still throw up unexpected search results. A good conveyancing solicitor in Costessey will provide you some helpful guidance here.
My fiancee and I are in the process of looking at flats in Costessey and I am about to put in an offer. Should I already have a property lawyer in place at this point? I intend to finance via a mortgage with RBS.
It would be sensible to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are taking out a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
I have decided to exercise my right to buy my property in Costessey off the council. I have a mortgage agreed with Yorkshire BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
I recently had an offer accepted on an apartment in Costessey. My financial adviser pressured me to appoint their conveyancer. I paid an on account payment of £175. Soon after, the lawyer called me sheepishly admitting that they were not on the Principality 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 Principality 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.
How does conveyancing in Costessey differ for new build properties?
Most buyers of new build or newly converted property in Costessey approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is completed. This is because developers in Costessey tend to buy the land, 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 accustomed to new build conveyancing in Costessey or who has acted in the same development.
Over the last few months I have been searching for a flat up to £305k and identified one near me in Costessey I like with amenity areas and transport links nearby, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Costessey in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you can ask them to start the process of the extension and pass 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 lawyer concerning this.
Looking forward to complete next month on a studio apartment in Costessey. Conveyancing lawyers assured me that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Costessey should include some of the following:
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Where does the liability rest for repairing the window frames Where does the liability rest to repair and maintain the building. It is important that you know who is duty bound to repair and maintenance of all parts of the block and communal areas You should have a good understanding of the insurance obligations Alterations to the premises The landlord’s rights to access the property. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided.
Costessey Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing
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Who is in charge of the block? Where a Costessey lease has less than eighty years it will affect the value of the flat. Check with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably need a lease extension at some point and it is worth discovering how much this would cost. For most Costesseylease extensions you will be be obliged to have been the owner of the premises for two years before you are eligible to extend the lease. This information is helpful as a) areas could result in problems for the building as the common areas may begin to deteriorate where services remain unpaid b) if the tenants have an issue with the running of the building you will want to have complete disclosure