I am due to complete on the purchase of a house in Bordon but as a consequence of damage from some water damage at the property I have managed to agree reparation from the vendor of £3k in the form of a reduction in the price. This was going to be dealt with as part of the conveyancing process but Aldermore will not agree to this. Why were they approached?
Any lawyer that is on the Aldermore approved list is required to advise Aldermore of any variations to the purchase price. If you prohibit your lawyer to disclose the price change to Aldermore then they would have to discontinue acting for you. In addition, Aldermore and you would have to appoint a new property lawyer for your conveyancing in Bordon.
We wanted to use a property lawyer in Bordon for our house move. Our financial adviser has since advised us that our mortgage lenders Accord Mortgages Ltd won't deal with them. Why is this not regarded as unfair competition?
Before the recession most mortgage companies had an appetite for risk which was higher than today. Almost all Bordon conveyancing firms would have been on many bank panels. The Financial Services Authority in 2010 conducted a thematic investigation into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms about their operations and their employees and set certain criteria such a completing on a minimum volume of transactions. Many Bordon conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Bordon is one of the many areas where the lawyers showing on our search results are are authorised to act for Accord Mortgages Ltd.
How does conveyancing in Bordon differ for new build properties?
Most buyers of new build property in Bordon approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Bordon typically acquire the site, 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 conveyancers 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 Bordon or who has acted in the same development.
I am looking for a flat up to £235,500 and found one round the corner in Bordon I like with amenity areas and transport links nearby, however it only has 49 years on the lease. I can't really find anything else in Bordon for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan that many years will be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
My business partner and I are wishing to lease a unit on the high street. Can you recommend solicitors offering fixed fees for commercial conveyancing in Bordon for less than 2k?
We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Bordon, including the sale and acquisition of businesses as well as simply property. Whether you are intending to purchase or sell a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right firm. Regarding the costs these will vary based on the structure and nuances of the proposed transaction. Please provide us with your contact information or email so as to enable us to furnish you with comprehensive commercial conveyancing quote.