Is there a reason why leasehold purchase conveyancing in Bishops Lydeard is more expensive?
Bishops Lydeard leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Bishops Lydeard. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 18/4/2024, the requirements read as follows :
How does conveyancing in Bishops Lydeard differ for new build properties?
Most buyers of new build property in Bishops Lydeard come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is completed. This is because new home sellers in Bishops Lydeard typically acquire the land, 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 Bishops Lydeard or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a house in Bishops Lydeard before appointing conveyancers. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies will refuse to issue a loan on this type of property.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. If you call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bishops Lydeard. Conveyancing will be smoother if you use a solicitor in Bishops Lydeard especially if they are familiar with such properties in Bishops Lydeard.
We are a fortnight into a leasehold purchase having been directed to a firm by the local agent to handle our conveyancing in Bishops Lydeard. I am am very frustrated with the level of service. Can you you assist me in finding new solicitors?
A lawyer would need to be very bad in order to consider replacing them. Has the loan offer been sent? If so you need to advise them of the new contact details and have the mortgage documents are re-sent. The solicitor ideally needs to be on the banks panel to avoid supplemental expenses and delays. That should be your first question of the new lawyers. The search tool should assist you in finding a lender approved conveyancer for your conveyancing in Bishops Lydeard