How does conveyancing in Alrewas differ for newly converted properties?

Most buyers of new build or newly converted property in Alrewas come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is ready to move into. This is because builders in Alrewas tend to purchase 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 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 Alrewas or who has acted in the same development.

Do I need to be concerned by brokers that I am dealing with are encouraging me to use an internet conveyancing firm rather than a local Alrewas conveyancing practice?

As is the case with many service providers, often referrals from connections can be most helpful. Yet there are lots of players in a conveyancing transaction; estate agents, financial adviser and mortgage companies may suggest solicitors to appoint. On occasion the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there is an underlying financial incentive behind the recommendation. You are free to select your preferred conveyancer. However, bear in mind that the majority of banks specify a panel list of law firms you have to use for the lender aspect of your home move.

In my capacity as executor for the will of my uncle I am selling a residence in Cardiff but I am based in Alrewas. My lawyer (based 200 kilometers awayrequires that I sign a stat dec prior to the transaction finalising. Can you recommend a conveyancing solicitor in Alrewas who can witness and place their company stamp on the document?

Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are based in Alrewas

Last May I purchased a leasehold flat in Alrewas. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Alrewas Leasehold Conveyancing - Sample of Questions you should ask before Purchasing

Does this lease have in excess of 85 years left? In the main the outlay for major works are not included within service charges, albeit that a few managing agents in Alrewas obliged tenants to pay into a reserve fund and this is used to offset against major repairs or maintenance. The prefered form of lease arrangement is a share of the freehold. In this situation the leaseholders enjoy control and although a managing agent is frequently retained if it is bigger than a house conversion, the managing agent retained by the leaseholders.

Our solicitor in Alrewas has uncovered a defect with the lease for the property we are purchasing in Alrewas. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer has advised that as he is on the mortgage company conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the mortgage company?

The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. A precondition to being on the mortgage company approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.