I am hoping to receive a mortgage offer from Santander. I intend to retain the legal services of a Licensed Conveyancer in Southsea. Does the Santander Solicitor panel exclude Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
Is there a reason why leasehold purchase conveyancing in Southsea is more expensive?
Southsea 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.
I have recentlybecome aware that Stirling Law have closed. They carried out my conveyancing in Southsea for a purchase of a leasehold flat 18 months ago. How can I be sure that my home is not still registered in the name of the former proprietor?
The easiest method to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Southsea conveyancing specialists.
How does conveyancing in Southsea differ for newly converted properties?
Most buyers of new build premises in Southsea contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is built. This is because new home sellers in Southsea typically acquire the real estate, 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 accustomed to new build conveyancing in Southsea or who has acted in the same development.
I am using a search engine for the phrase cheap conveyancing in Southsea it shows results of numerous property lawyersin the area. With so much choice what is the best way to find the right conveyancing solicitor for me?
The best method of choosing a suitable conveyancer is through a trusted recommendation, so enquire of colleagues and those you trust who have bought a property in Southsea or the local estate agent or financial adviser. Charges for conveyancing in Southsea vary, so it's a good idea to obtain a minimum of three estimates from varying types of solicitors. Dont forget to clarify that the fees are fixed.
I am a negotiator for a long established estate agency in Southsea where we have witnessed a few leasehold sales put at risk as a result of short leases. I have received contradictory information from local Southsea conveyancing solicitors. Can you confirm whether the seller of a flat can start the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.
Southsea Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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It would be a good idea to discover if there is anything that is prohibited in the lease. By way of example plenty of leases prohibit pets being allowed in in a block in Southsea. If you love the apartmentin Southsea however your dog is not allowed to live with you then you will be presented with a difficult determination. The majority of Southsea leasehold properties will be liable to pay a service charge for maintenance of the building invoiced on behalf of the landlord. Where you acquire the flat you will have to meet this contribution, usually quarterly accross the year. This could differ from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a ground rent for you to pay annual, this is usually not a significant sum, say approximately £50-£100 but you should to enquire as on occasion it can be prohibitively expensive. What is the length of the lease?