We are planning to purchase with Darlington Building Society. We have called around locally yet am struggling to find a Grange Over Sands conveyancing firm on the Darlington Building Society approved list. Could you help?
Feel free to make use of the search tool on this web page. Pick the building society and type Grange Over Sands or your location and you will see a number of lawyer located in Grange Over Sands or by proximity to you.
I have been told that property searches are the number one cause of hinderance in Grange Over Sands house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Searches are unlikely to feature in any holding up conveyancing in Grange Over Sands.
How does conveyancing in Grange Over Sands differ for new build properties?
Most buyers of new build property in Grange Over Sands contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because new home sellers in Grange Over Sands usually purchase the real estate, 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 Grange Over Sands or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Grange Over Sands before instructing solicitors. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some banks tend not grant a mortgage on this type of property.
It depends who your proposed lender is. Santander has different requirements from Birmingham Midshires. If you e-mail us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Grange Over Sands. Conveyancing will be smoother if you use a solicitor in Grange Over Sands especially if they are accustomed to such properties in Grange Over Sands.
I'm remortgaging my existing home to a buy to let loan with Accord Mortgages Ltd and I will use the ballance of the raised equity as a deposit on another house. The location we are talking about is Grange Over Sands. Will your lawyers be able to act for the two lenders and tie in the conveyances?
Do use our search tool on this page to ensure that the solicitors are approved by both mortgage companies. On the basis that they are your conveyancer will be able to simultaneously deal with the two transactions but you should talk with you solicitor and specify your desired outcome and needs.
I am a negotiator for a long established estate agency in Grange Over Sands where we have witnessed a few flat sales jeopardised as a result of short leases. I have been given contradictory information from local Grange Over Sands conveyancing firms. Please can you confirm whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Grange Over Sands Leasehold Conveyancing - Examples of Questions you should consider before Purchasing
-
Where a Grange Over Sands lease has less than eighty years it will have adverse implications on the value of the flat. It is worth checking with your bank that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will most likely need a lease extension sooner rather than later and it is worth finding out how much this would cost. Remember, in most cases you would need to own the residence for a couple of years before you are entitled to carry out a lease extension. Who is in charge of the building?