The housing market in Deddington is hotting up. What can be done to speed up the legal process?

First, If you are under pressure to complete it is highly recommended that your solicitor is familiar with the area as they will make use of local contacts and knowledge. It is even conceivable that they would have transacted previousproperties in the same road. You would be best advised to use a Deddington conveyancing lawyer. Second, make sure that the lawyer is on the on the approved list for your mortgage company. It is said that nearly one in five of Deddington conveyancing transactions are delayed or jeopardised after finding out that a buyer’s conveyancer was not on their mortgage lender’s member panel. In many cases this discovery resulted in the transaction being frustrated by as much as 21 days. It is understood that this issue impacts in the region of 100,000 home moves every year. Almost all Deddington conveyancing firms can not represent certain mortgage companies so do check as early as possible.

Forgive me if this question is silly but I am new to the house moving as a first time purchaser of a ground floor flat in Deddington. Do I collect the keys to the house on the completion date from my conveyancer? If this is the case, I will use a High Street conveyancing solicitor in Deddington?

On the day of completion you do not need to go to the conveyancers office in Deddington. Conveyancing lawyers for you will arrange to send the completion advance to the owner’s conveyancers, and shortly after the monies have arrived, you should be able to pick up the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.

I currently have a mortgage with Skipton for my property in Deddington. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?

Your original mortgage agreement with Skipton will provide that you need their approval in advance of renting your property as this is likely to be a breach of Skipton’s mortgage conditions. It may be that Skipton will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. It should not be necessary to do this via a Skipton conveyancing panel lawyer.

Lloyds have agreed my home loan in principle, my bid on a apartment in Deddington has been agreed to, what happens next?

The property agent will want to be informed of your solicitor's details (ensure that the solicitors are on the lender’s panel). Call up Lloyds or your broker and finish off any appropriate paperwork. Lloyds will sellect a valuer who will get in contact with the estate agent or owners to book an appointment. Once conducted (assuming no problems) it takes approximately a fortnight to get a mortgage offer. Lloyds will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Deddington.

I am buying a new build apartment in Deddington. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Deddington

Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.

My company is wishing to take over a lease of a shop on the high street. Can you recommend solicitors offering fixed charges for commercial conveyancing in Deddington for less than 2k?

We can recommend firms who have specialist knowledge of commercial conveyancing in Deddington, including the disposal and acquisition of businesses as well as simply property. Whether you are looking to purchase or dispose of a shop, pub, restaurant, office, retail premises or a whole business we can find you the right lawyer. As for the fees this will depend on the structure and terms of the deal. Please provide us with your contact information or phone so as to enable us to furnish you with a detailed commercial conveyancing quote.

I have miscalculated my finances and am a few thousand pounds short a 10% deposit on my house purchase in Deddington , but I am anxious exchange. Do I have options?

One option is to try and accept a lower deposit. Most vendors will accept a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute