My fiancee and I are acquiring our first property. The solicitor has calledto check if we would like to purchase extra conveyancing searches. We are really unsure what's appropriate for conveyancing in Bedfordshire
The quantity and type of Bedfordshire conveyancing searches should be dictated entirely on the property, the location, the likelihood of any of these risks, your knowledge of the region and risks, your overall approach to risk. What matters is that you properly understand what information the searches could supply. Then you can decide if you consider that you need that information. If uncertain, ask your solicitor to advise.
I require quick conveyancing in Bedfordshire as I am under an ultimatum to complete inside one month. Luckily I do not require a mortgage. Can I avoid the conveyancing searches to save fees and time?
As you are are a mortgage free purchaser you have the choice not to do searches although no lawyer would suggest that you don't. Drawing on years of experience of conveyancing in Bedfordshire the following are instances of what can be revealed and adversely impact market value: Refused Planning Applications, Outstanding Fees, Overdue Grants, Railway Schemes,...
How does conveyancing in Bedfordshire differ for newly converted properties?
Most buyers of new build residence in Bedfordshire come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Bedfordshire tend to 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 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 accustomed to new build conveyancing in Bedfordshire or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in Bedfordshire in advance of appointing lawyers. I have been told that there is a flying freehold element to the house. The surveyor has said that some banks may refuse to give a loan on this type of home.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. If you e-mail us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bedfordshire. Conveyancing may be slightly more expensive based on your lender's requirements.
My partner and I have AIP from The Mortgage Works who have advised we could borrow up to £218k. At what point do I need to instruct a solicitor for conveyancing? Bedfordshire is where we plan to move to.
You can appoint a conveyancing practitioner now requesting that they open a file for you. This will kickstart: 1) the selling agent to issue a Sales Memorandum to the relevant parties 2) the seller’s lawyer to send out the draft contract. However, do not instruct your solicitor to start searches until you receive your valuation report from The Mortgage Works and you are content to proceed.