Find a Broadclyst Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Broadclyst? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Broadclyst home move at risk of delay or failure.

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Recently asked questions about conveyancing in Broadclyst

How does conveyancing in Broadclyst differ for newly converted properties?

Most buyers of new build or newly converted property in Broadclyst approach us having been asked by the seller to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in Broadclyst 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 Broadclyst or who has acted in the same development.

I opted to have a survey done on a house in Broadclyst ahead of retaining lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some lenders tend not issue a loan on this type of property.

It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Broadclyst. Conveyancing may be slightly more expensive based on your lender's requirements.

I am looking into buying my first house which is in Broadclyst and I am already nervous. I couldn't find anything specific about Broadclyst. Conveyancing will be needed in due course but do you know about the Broadclyst area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Broadclyst. In the meantime here are some basic statistics that we found

I am tempted by the attractive purchase price for a two apartments in Broadclyst both have about forty five years left on the lease term. Do I need to be concerned?

There are plenty of short leases in Broadclyst. The lease is a right to use the property for a period of time. As a lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. For this reason it is advisable to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena.

Broadclyst Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

    The answer will be important as a) areas can cause problems in the building as the common areas may start to deteriorate where repairs are not paid for b) if the leaseholders have an issue with the running of the building you will need to have all the details Who is in charge of the building? Please inform me if there are any major works in the planning that will likely add a premium to the maintenance costs?

I have finally had an offer on an maisonette in Broadclyst agreed to, the seller does however have a tied purchase. The owners have offered on somewhere, but it’s not been accepted yet, and has viewings of other properties booked. I have chosen a nearby conveyancing solicitor in Broadclyst. What should be my next step? At what point should I apply for the mortgage with Nationwide?

It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of one thousand pounds, then survey, Broadclyst conveyancing search fees, etc). First, you must ensure that your conveyancing practitioner is on the Nationwide conveyancing panel. As to the subsequent phase this very much depends on the specifics of your case, desire for the property and on the state of the market. During a hot market the majority of purchasers will apply for the mortgage with Nationwide and pay for the valuation and only if it comes back ok would they request their property lawyer to proceed with searches.

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Find out more about how flying freehold can affect your the value of a property.