Is there a reason why leasehold purchase conveyancing in Temple costs more?
Temple 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 am purchasing a garden flat in Temple. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Temple 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 Temple.
Intending to buy a apartment in Temple. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Temple conveyancing practitioner is on the Coventry BS conveyancing panel.
I had an offer accepted on a house in Temple on 18/6/2020, valuation was booked 2 days later, received a clean bill of health. Conveyancer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Nottingham and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Nottingham conveyancing panel. Are Nottingham entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.
Barclays have agreed my mortgage in principle, my offer on a property in Temple has been accepted, now what?
The estate agent will need to know who your solicitors are (be sure the conveyancing practitioners are on the lender’s approved list). Contact Barclays or your financial adviser and complete any outstanding forms. Barclays will instruct a valuer who will get in touch with the selling agent or seller to arrange a slot for the valuation to happen. Once carried out (assuming no problems) it takes about a week to get a mortgage offer. Barclays will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Temple.
Are there restrictive covenants that are commonly identified during conveyancing in Temple?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Temple. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a leasehold apartment up to £235,500 and identified one near me in Temple I like with a park and railway links nearby, the downside is that it's only got 51 years on the lease. I can't really find anything else in Temple suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
A couple of months ago I was told by my lender that their panel lawyers work on no move no fee basis for conveyancing in Temple. I had a purchase fall through and now the lawyers have requested search fees! They say the fees are seperate!
By offering "no sale no fee" Temple conveyancing firms are writing off their charges for any work conducted. We must stress this is NOT an insurance scheme. you will still be expected to cover any charges that your solicitor has incurred for you such as Temple local authority searches