Our mortgage company has suggested a law firm on their panel based in Shefford but I would rather choose a conveyancing lawyer in Shefford or nearer to where I live. Are you able to assist?
Far from all Shefford conveyancing firms are approved and listed on all lender’s conveyancing panel. Use the above find an approved solicitor tool to find a Shefford conveyancing conveyancer on the on the bank panel.
There are numerous conveyancing solicitors in Shefford but how do I know who I should use?
It would be unwise to be tempted by the cheapest Shefford conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Leeds Building Society have agreed my home loan in principle, my offer on a house in Shefford has been accepted, now what?
The estate agent will need to know who your solicitors are (make sure the conveyancers are on the bank’s approved list). Call up Leeds Building Society or your financial adviser and finish off any appropriate forms. Leeds Building Society will instruct a valuer who will get in touch with the selling agent or seller to arrange an appointment. Once carried out (assuming no problems) it takes on average ten days to get a mortgage offer. Leeds Building Society will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Shefford.
After what seems like an age I have had an offer on an apartment in Shefford agreed to, but there is a chain. The vendors have placed an offer on a flat, however it’s not yet tied up, and are looking at other properties booked. I have selected a bricks and mortar conveyancing solicitor in Shefford. What should be my next step? At what point do I apply for the mortgage with TSB?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of one thousand pounds, then survey, Shefford conveyancing search fees, etc). First, you should check that your conveyancing practitioner is on the TSB approved list. As to the subsequent steps this very much dictated by the uniqueness of your transaction, desire for this property and on the state of the market. During a buoyant market some buyers will apply for a home loan with TSB and pay for the valuation and only if it was satisfactory would they ask their conveyancing practitioner to press on with searches.
3 months have elapsed following my purchase conveyancing in Shefford took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Just had an offer accepted on a new build apartment in Shefford. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Shefford
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There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
In what way can the Landlord & Tenant Act 1954 affect my commercial premises in Shefford and how can you help?
The particular law that you refer to affords protection to commercial leaseholders, granting the right to apply to court for a renewal lease and continue in occupation at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and help with commercial conveyancing in Shefford
I am attracted to a couple of maisonettes in Shefford both have about fifty years left on the leases. Do I need to be concerned?
There are plenty of short leases in Shefford. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorates and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this arena.
Shefford Leasehold Conveyancing - Examples of Queries Prior to Purchasing
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How much is the service charge and ground rent on the apartment? The majority of Shefford leasehold properties will have a service charge for maintenance of the building invoiced by the freeholder. Should you purchase the property you will have to meet this charge, normally quarterly accross the year. This could vary from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a ground rent to be met yearly, this is usually not a large amount, say approximately £25-£75 but you need to check it because sometimes it can be surprisingly expensive. Where a Shefford lease has no more than eighty years it will impact the value of the property. It is worth checking with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely have to extend the lease at some point and you need to have some idea of what this would cost. Remember, in most cases you would need to own the premises for a couple of years before you are eligible to exercise a lease extension.