When can the exchange of contracts take place for purchase conveyancing in Southampton and do I need to be at the solicitors branch?
Where you are local to our conveyancing solicitors in Southampton you are invited in to sign the paperwork. That being said, the lender approved solicitors we recommend provide a countrywide conveyancing service and provide just as comprehensive and professional a job for you when communicating with you by post or email. The executing of the contract is not the point of no return. Signing on the dotted line simply enables the solicitor to officially exchange at the appropriate time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Southampton)to be in the office at the appropriate time.
I am buying a new build flat in Southampton. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Southampton you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Southampton.
What is your number one tip for finding a conveyancing solicitor in Southampton
Do not opt for the cheapest Southampton conveyancing fees. You really do get what you’re paying 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 know exactly what you’ll have to pay in ahead of the deal.
I'm spending time looking at flats in Southampton and I am now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a home loan with RBS.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. As you are taking out a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
I currently have a mortgage with Kent Reliance for my property in Southampton. Conveyancing was finalised some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Kent Reliance?
You must advise Kent Reliance prior to renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance will allow you to rent 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 Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel solicitor.
Have purchased a a semi-detached house in Southampton , how long will it take for the Land Registry to record my proprietorship? My Southampton conveyancing solicitor has been very slow, so I want to be certain the registration is addressed.
There is nothing unique when it comes to conveyancing in Southampton registration formalities. As opposed to being determined by geographic area, timeframes can differ according to who lodges the application, whether there are errors and if the Land registry must send notices to any third persons or bodies. At present roughly 80% of such applications are fully dealt with within 12 days but some can be subject to longer hold-ups. Registration occurs after the buyer is living at the premises therefore 'speed' is not usually an essential issue but if it is urgent that the the registration takes place urgently then you or your conveyancer could speak with the land registry and explain the circumstances.
I'm purchasing a new build house in Southampton with the aid of help to buy. The builders refused to move on the price so I negotiated 6k of additionals instead. The estate agent suggested that I not disclose to my lawyer about the side-deal as it may jeopardize my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one round the corner in Southampton I like with open areas and transport links nearby, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Southampton for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan the shortness of the lease will be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.