At what point will exchange of contracts occur in sale conveyancing in Thornton Heath and am I required to be at the solicitors office?
If you are in close proximity to our conveyancing solicitors in Thornton Heath you are welcome to come in to sign the paperwork. That being said, the law practices we work with offer a national conveyancing service and provide just as detailed and professional a job for you when dealing with you by post or email. The signing of the contract is not the point of no return. Signing on the dotted line is just a prerequisite for the solicitor to officially exchange at the suitable time, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Thornton Heath)to be in the office at the appropriate time.
Me and my partner are purchasing a property in Thornton Heath. I might seem paranoid but how we can trust a solicitor? On the day of competition we will need to deposit money into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
There are numerous conveyancing solicitors in Thornton Heath but how do I know who I should use?
It would be unwise to be tempted by the cheapest Thornton Heath conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. 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 advance.
I'm at the point of viewing flats in Thornton Heath and I am about to put in an offer. Should I already have a conveyancer appointed at this point? I intend to finance via a home loan with Coventry BS.
You should start obtaining 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 forward their contact information on to the EA. Given that you are getting a mortgage with Coventry BS, ask your prospective lawyers if they are on the Coventry BS conveyancing panel otherwise they can't do the mortgage legal work.
How does conveyancing in Thornton Heath differ for new build properties?
Most buyers of new build or newly converted property in Thornton Heath come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is constructed. This is because builders in Thornton Heath 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 used to new build conveyancing in Thornton Heath or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Thornton Heath is the location of the property. Can you offer any opinion?
Flying freeholds in Thornton Heath are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Thornton Heath you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Thornton Heath may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I'm converting the mortgage on my existing house to a buy to let mortgage with Lloyds TSB Bank and intend to use the remaining equity as a down payment on further house. The location we are looking at is Thornton Heath. Will your lawyers be able to act for both sets of lenders and link together the transactions?
Do use our comparison tool on this page to ensure that the lawyers are on the relevant lender panels. Assuming that they are your solicitor will be able to tie up the two conveyancing matters but you should talk with you conveyancer and make clear your desired outcome and requirements.
I am a negotiator for a reputable estate agency in Thornton Heath where we see a few leasehold sales jeopardised due to short leases. I have received conflicting advice from local Thornton Heath conveyancing solicitors. Could you clarify whether the vendor 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 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 at the same time as completion of the sale.
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.
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Thornton Heath. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We can put you in touch with a Thornton Heath conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Thornton Heath premises is Ground Floor Flat 14 Lodge Road in October 2013. the tribunal held that the price payable for the acquisition of the extended lease of the property should be £12,590 .00 This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 69.46 years.