What is the first thing I need to know regarding purchase conveyancing in Oadby?
You may not hear this from too many lawyers but conveyancing in Oadby and elsewhere in England and Wales is an adversarial process. In other words, when it comes to conveyancing there is plenty of opportunity for conflict between you and other parties involved in the legal transfer of property. E.g., the vendor, estate agent and on occasion your mortgage company. Selecting a lawyer for your conveyancing in Oadby an important selection as your conveyancer is your adviser, and is the ONLY person in the process whose responsibility is to look after your best interests and to keep you safe.
Sometimes a third party with a vested interest may attempt to sway you that you should follow their advice. For instance, the selling agent may claim to be helping by claiming that your conveyancer is dragging his heels. Or your financial adviser may tell you to do something that is contrary to your lawyers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
We're in Oadby, First timers buying with a mortgage (lender is Clydesdale , and our lawyer is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale 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.
How does conveyancing in Oadby differ for new build properties?
Most buyers of new build residence in Oadby approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Oadby tend to purchase the site, 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 Oadby or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in Oadby ahead of instructing solicitors. I have been advised that there is a flying freehold element to the property. My surveyor has said that some banks will not grant a loan on such a house.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Oadby. Conveyancing will be smoother if you use a solicitor in Oadby especially if they regularly deal with such properties in Oadby.
I am employed by a busy estate agency in Oadby where we have experienced a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Oadby conveyancing firms. Could you clarify whether the owner of a flat can initiate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed 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.
Leasehold Conveyancing in Oadby - Sample of Queries before Purchasing
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The answer will be useful as a) areas can cause problems in the block as the common areas may start to deteriorate where repairs remain unpaid b) if the leaseholders have an issue with the running of the building you will want to know about it How many of the leaseholders are in arrears for their service charge payments? How many years are left on the lease?
Living abroad I am unable to be present at my Oadby conveyancing solicitors office to sign documents for conveyancing in Oadby – is this a problem?
No. Oadby conveyancing solicitors can handle home moves for clients wider afield. It is not necessary for you to be able to be present a Oadby conveyancers office. They can deal with all communications remotely from their Oadby office.