I am purchasing a right to buy a flat in Stockton Heath. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Stockton Heath 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 Stockton Heath.
I have been told that property searches are the main reason for hinderance in Stockton Heath house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Stockton Heath.
How does conveyancing in Stockton Heath differ for new build properties?
Most buyers of new build premises in Stockton Heath contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is built. This is because developers in Stockton Heath tend to 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 property lawyers 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 Stockton Heath or who has acted in the same development.
Am I right to be suspicious that estate agents that I am dealing with are suggesting a factory type conveyancing firm rather than a local Stockton Heath conveyancing firm?
As with many service providers, often suggestions from relatives can be extremely useful or valuable. But there are lots of people with a keen interest in a conveyancing matter; estate agents, financial adviser and mortgage companies may recommend conveyancers to choose. On occasion the solicitors might be known to one of the organisations as being good in their field, but sometimes there behind the scenes commercial relationship behind the recommendation. You have the discretion to appoint your preferred conveyancer. However, bear in mind that many mortgage providers specify a panel list of lawyers you must use for the lender related work in your house move.
I am employed by a busy estate agent office in Stockton Heath where we see a few leasehold sales derailed due to short leases. I have received contradictory information from local Stockton Heath conveyancing firms. Could you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner 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 wait 2 years to extend their lease. 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 disposal of the property.
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 Stockton Heath - A selection of Questions you should ask before Purchasing
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You should be aware that where the lease has fewer than 80 years it will have adverse implications on the salability of the property. Check with your mortgage company that they are content with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth finding out how much this will be. For most Stockton Heathlease extensions you will need to own the premises for a couple of years in order to be legally able to carry out a lease extension. What restrictions are contained in the Stockton Heath Lease? How many of the leaseholders are in arrears for their service charge payments?
I see that you have a search directory listing law firms on the bank conveyancing panel. Do Stockton Heath conveyancing companies pay you a commission if I appoint them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the mortgage company conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Stockton Heath.