I'm in the process of changing my existing standard home loan to a Buy to Let HSBC Bank mortgage. I have been informed by my broker that I require a conveyancer for this. I spoke to my past Downe conveyancing solicitor who who completed the conveyancing when I originally purchased the property. The costs illustration provided of £470 is surprising as its a refinance than a sale or purchase.
The quote is slightly on the high side. If you shop around you may be able to decrease the fees marginally by say a hundred pounds. That being said, providing that you were content with the assistance the firm provided you couldlive to regret choosing an an untested solicitor. Remember to be sure that the solicitor can act for HSBC Bank. Do make use of our search tool to choose a Downe conveyancing firm on the HSBC Bank approved list of lawyers, which can often include conveyancing solicitors in Downe.
We are a couple about to sign contracts for a ground floor flat in Downe. We have hit a problem. Our mortgage offer with Godiva Mortgages Ltd expires on 3/7/2025 but the sellers are putting forward a completion date of 7/7/2025. Is it possible to prolong the loan offer?
The best person to address this issue is your lawyer who will hopefully determine whether they corresponding with the mortgage company, vendor’s solicitors, property agents or conceivably all parties given the history of your conveyancing as of today.
At what point can the exchange of contracts occur in sale conveyancing in Downe and am I required to attend the lawyers branch?
If you are local to our conveyancing solicitors in Downe you are invited in to sign contracts. That being said, the law practices we recommend provide a countrywide conveyancing service and give as equally comprehensive and professional a job for you when dealing with you digitally. The signing of the contract is not when everything is set in stone. A signed contract is just a prerequisite for the solicitor to exchange contracts when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Downe)to be in the office available at the end of the phone to exchange contracts.
A relative advised me that where I am purchasing in Downe I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes included in the estimate for your Downe conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Downe around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Downe Education with plans and statistics, Local Amenities and other useful data concerning Downe.
What advice can you give us when it comes to appointing a Downe conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Downe conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Downe conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:
-
What are the charges for lease extension conveyancing? Can they put you in touch with clients in Downe who can give a testimonial?
Having spent years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Downe. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to assess the sum to be paid.
An example of a Lease Extension case for a Downe premises 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 affected 1 flat. The unexpired term was 50.57 years.
Sixweeks into purchasing a house in Downe. Conveyancing lawyer has phoned to say the title is "Leasehold". Does this make a difference on the salability of the property?
Downe conveyancing does not ordinarily involve leasehold houses. The main consideration here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's virtually freehold, so it shouldn't impact the saleability too much.
At the other end of the spectrum, if it's, say, Sixty years it will have a adverse impact on the saleability, and most likely wouldn't be acceptable to the bank. The length of lease and ground rent will be stated in the lease to be supplied to your solicitor.