We chose a local lawyer for our conveyancing in Leigh On Sea today. Going through the Ts and Cs it is apparent thatI am on the hook for fees even where the transaction does not complete. Should I ditch them and choose an on-line solicitor practice promising no move no charge conveyancing in Leigh On Sea?
It is usually ‘give and take’ in that if "No Completion No Fee" is advertised then the fee levels will generally be more expensive to offset those cases that do not go ahead. Dont forget that these promotions generally do not protect you from expenditure e.g. Leigh On Sea conveyancing search costs.
I am considering applying for a Virgin Money mortgage for purchase of a new build (under development) in Leigh On Sea with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?
There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Leigh On Sea?
Two types of professional can perform conveyancing in Leigh On Sea namely licenced conveyancers or solicitors. Both professionals handle conveyancing services that required to complete the sale or purchase of property. Both are duty bound to execute Leigh On Sea conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be properly conducted and that the requisite steps will be correctly followed.
This question may be naive but I am new to the home moving as FTB of a two bedroom flat in Leigh On Sea. Do I pick up the keys to the property on completion from my conveyancer? If so, I will instruct a High Street conveyancing solicitor in Leigh On Sea?
On the day of completion you will not be required to go to the conveyancers office in Leigh On Sea. Conveyancing lawyers for you will electronically transfer the completion advance to the owner’s conveyancers, and shortly after the monies have arrived, you will be able to pick up the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
I had an offer accepted on an apartment in Leigh On Sea on 13/4/2023, valuation was booked 4 days after, received a clean bill of health. Property lawyer instructed, so all that was missing was my mortgage offer. Having made daily calls to Barclays and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Barclays conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
Due to the input of my in-laws I had a survey completed on a house in Leigh On Sea prior to retaining solicitors. I have been informed that there is a flying freehold element to the property. My surveyor has said that some mortgage companies may refuse to issue a mortgage on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. If you call us we can investigate further 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 Leigh On Sea. Conveyancing will be smoother if you use a solicitor in Leigh On Sea especially if they regularly deal with such properties in Leigh On Sea.
Do I need to be suspicious that brokers that I am dealing with are recommending an online conveyancing firm rather than a local Leigh On Sea conveyancing company?
As with many professional services, often referrals from family and friends can be very helpful. Nevertheless there are many people with a keen interest in a conveyancing matter; estate agents, mortgage brokers and lenders might all recommend solicitors to choose. On occasion the lawyers might be known to one of the organisations as experts in their field, but occasionally there may be a commercial relationship behind the recommendation. You have the right to select your preferred conveyancer. However, bear in mind that the majority of mortgage providers specify a panel list of lawyers you are obliged to use for the lender aspect of your transaction.
I am tempted by the attractive purchase price for a two apartments in Leigh On Sea both have approximately fifty years unexpired on the leases. Will this present a problem?
A lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease decreases and it becomes more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field.
I own a leasehold flat in Leigh On Sea, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Corresponding properties in Leigh On Sea with over 90 years remaining are worth £175,000. The ground rent is £65 per annum. The lease runs out on 21st October 2081
With just 58 years remaining on your lease the likely cost is going to be between £23,800 and £27,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.