Why is leasehold purchase conveyancing in Marston Moretaine costs more?
Marston Moretaine leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
The mortgage over my property is with Nationwide for my property in Marston Moretaine. Conveyancing was finalised 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Nationwide?
Nationwide must be informed of your intention before letting out your property as this is likely to be a breach of Nationwide’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide directly. It should not be necessary to do this via a Nationwide conveyancing panel lawyer.
After weeks of negotiation I have agreed a price on an apartment in Marston Moretaine. My financial adviser recommended their conveyancers. I paid an advanced payment of £175. A couple of days later, the conveyancing practitioner called me to say 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.
Our sealed bid on a detached house in Marston Moretaine has been agreed to, but there is a chain. The sellers have put an offer on a flat, but it’s not been accepted yet, and are looking at other properties booked. I have chosen a local conveyancing solicitor in Marston Moretaine. What should be my next step? At what point should I apply for the mortgage with Yorkshire BS?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of one thousand pounds, then survey, Marston Moretaine conveyancing search costs, etc). First, you should ensure that your solicitor is on the Yorkshire BS approved list. Regarding the subsequent phase this very much dictated by the circumstances of your transaction, desire for the property and on the state of the market. In a rising market the majority of buyers would apply for the mortgage with Yorkshire BS and pay for the valuation and only if it was satisfactory would they pay their conveyancing practitioner to press on with searches.
My partner and I are intent on selling our property in Marston Moretaine and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any local conveyancer would know that there is no such problem. It does beg the question why the buyers instructed a nationwide conveyancing practice as opposed to a conveyancing solicitor in Marston Moretaine. Having lived in Marston Moretaine for six years we know that this is a non issue. Do we get in touch with our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing lawyer already. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
How does conveyancing in Marston Moretaine differ for newly converted properties?
Most buyers of new build residence in Marston Moretaine approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Marston Moretaine usually 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 conveyancing solicitors 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 used to new build conveyancing in Marston Moretaine or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what should have been a simple, chain free conveyancing. Marston Moretaine is the location of the property. Is there any guidance you can impart?
Flying freeholds in Marston Moretaine are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Marston Moretaine you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Marston Moretaine may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Why am I unable to complete my conveyancing in Marston Moretaine on Easter Monday?
Because on completion the money needs to pass between the banks of the purchaser and seller's property lawyer and currently this can only take place on a business day. It is not possible to complete on a weekend either.