I am getting a mortgage offer from Halifax. My intention is to enlist the help of a Licensed Conveyancer in Eastleigh. Does the Halifax Conveyancing panel allow for conveyancers regulated by the CLC?
The Halifax conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
The owners of the house we are hoping to buy are using a conveyancing firm in Eastleigh who has recommended a exclusivity contract with a down payment of 5k. Are such arrangements appropriate for Eastleigh conveyancing transactions?
Lock out contracts are contracts between a home owner and purchaser granting the buyer a ‘clear field’ to purchase the premises within a prescribed time frame. For all intents and purposes, a lock out agreement is a contract specifying that you should receive a contract at a later date being the main conveyancing contract. It tends to be utilised for buyer assurance though in many situations, the vendor may stand to benefit from such agreements as well. There are various pros and cons to having an agreement but you need to check with your conveyancer but note that it may result in incurring extra in conveyancing charges. For this these agreements are avoided in relation to conveyancing in Eastleigh.
At what point does exchange of contracts take place for purchase conveyancing in Eastleigh and am I required to attend the conveyancers branch?
If you are near to one of the conveyancing solicitors in Eastleigh you are invited in to sign the paperwork. However, the lender approved solicitors we work with provide countrywide coverage for conveyancing and provide as equally detailed and professional a job for you when dealing with you electronically. The signing of the purchase agreement is not when everything is set in stone. A signed contract is just a prerequisite for the conveyancer to address the formalities at the suitable time, 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 involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Eastleigh)to be in the office at the appropriate time.
We're in Eastleigh, First time buyers purchasing with a mortgage (lender is Coventry BS , and our solicitor is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
A relative suggested that where I am buying in Eastleigh I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Eastleigh conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Eastleigh 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 demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Eastleigh Education with maps and statistics, Local Amenities and other useful data regarding Eastleigh.
I am looking for a flat up to £245,000 and found one near me in Eastleigh I like with a park and railway links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Eastleigh for this price, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage that many years may be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.