I am under pressure from the seller of a property in Cubitt Town to exchange within four weeks. What can I do to expedite matters?
Where the seller is applying time constraints to complete it is advisable to make sure that your lawyer is familiar with the location as they will have local connections and insight. It is possible that they may have transacted otherhomes in the same road. You would be best advised to use a Cubitt Town conveyancing firm. Second, be sure that the conveyancing firm is on the on the approved list for your mortgage company. It is claimed that just under twenty per cent of Cubitt Town conveyancing deals are delayed or derailed after finding out that a purchaser’s solicitor was not on their mortgage lender’s panel. This can often result in the transaction being delayed by an average of 21 days. It is understood that this issue affects approximately one hundred thousand home moves annually. Many Cubitt Town conveyancing practices can not represent certain mortgage companies so do check at the outset.
Is there a reason why leasehold purchase conveyancing in Cubitt Town is more expensive?
Cubitt Town leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
My brother-in-law has suggested I instruct a conveyancing solicitor in Cubitt Town. I I would like to check whether they are accepted on the National Westminster Bank conveyancing panel. Could you advise?
You should phone your conveyancer and ask them if they can act for the bank. Alternatively you can call National Westminster Bank who may be able to help.
I have been on the look out for a leasehold apartment up to £305k and identified one near me in Cubitt Town I like with amenity areas and transport links in the vicinity, however it's only got 51 years unexpired on the lease. I can't really find anything else in Cubitt Town in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage that many years may be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
My husband and I are first time buyers - had an offer accepted, yet the selling agent informed us that the owners will only proceed if we instruct their chosen lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a family conveyancer who is accustomed to conveyancing in Cubitt Town
We suspect that the owner is not behind this demand. If they require ‘a quick sale', taking such a hostile approach to a genuine buyer is is going to put the whole deal at risk. Speak to the vendors direct and make sure they comprehend that (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you intend to use your preferred Cubitt Town conveyancing firm - not the ones that will earn the estate agent a referral fee or meet his conveyancing targets demanded by head office.