Is it realistic for conveyancing in Chandlers Ford to be finalised in 10 days?
In the event that you are under a tight deadline to sign contracts we would recommend that your conveyancer is familiar with the area as they will have local contacts and knowledge. It is even conceivable that they could have handled otherhouses in the same neighbourhood. You would be best advised to use a Chandlers Ford conveyancing solicitor. In addition, check that the conveyancing firm is on the member panel. It is estimated that just under twenty per cent of Chandlers Ford conveyancing transactions are delayed or derailed after finding out that a purchaser’s conveyancer was not on their banks panel. This can often result in the legal transfer of property being delayed by almost three weeks. It is believed that this issue impacts approximately one hundred thousand home sales annually. Many Chandlers Ford conveyancing practices can not act for certain lenders so do check at the outset.
Forgive me if this question is silly but I am unexperienced as FTB of a garden flat in Chandlers Ford. Do I pick up the keys to the premises on completion from my lawyer? If this is the case, I will use a High Street conveyancing solicitor in Chandlers Ford?
On the day of completion you do not need to go to the conveyancers office in Chandlers Ford. Your solicitors will arrange to send the completion advance to the seller's conveyancers, and shortly after the monies have arrived, you will be invited to pick up the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
My husband and I have organised a further advance on our home loan from Nationwide as we intend to carry out a loft conversion to our house in Chandlers Ford. Do we need to appoint a nearby Chandlers Ford solicitor on the Nationwide conveyancing panel to handle the paperwork?
Nationwide don't usually instruct firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide conveyancing panel.
I had a mortgage agreed in principle with Santander. Chandlers Ford conveyancing lawyers were instructed. What is the average time that one could expect to receive a mortgage offer from Santander?
There is no definitive answer here. Have Santander done the valuation? Have you advised Santander as to your lawyers' details and checked that your lawyers are on the Santander conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The estate agent has sent us the confirmation of our purchase of a new build flat in Chandlers Ford. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Chandlers Ford
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
In scouring the world wide web for the term conveyancing in Chandlers Ford it shows results of many property lawyersin the area. How do I determine which is the right conveyancing solicitor for purchase transaction?
The preferential method of choosing the right conveyancer is through a personal referral, so enquire of friends and family who have acquired a property in Chandlers Ford or a reputable estate agent or financial adviser. Fees for conveyancing in Chandlers Ford vary, so it's a good idea to obtain at least three quotes from different law firms. Dont forget to clarify that the fees are fixed.
What are the frequently found defects that you witness in leases for Chandlers Ford properties?
There is nothing unique about leasehold conveyancing in Chandlers Ford. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
Maintenance charge proportions which don’t add up to the correct percentage A provision for the recovery of money spent for the benefit of another party.
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Coventry Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.
I invested in buying a 1 bedroom flat in Chandlers Ford, conveyancing having been completed 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Chandlers Ford with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2083
You have 64 years left to run we estimate the price of your lease extension to span between £14,300 and £16,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.