We are selling our apartment in East Hunsbury. Will the conveyancing practitioner need to be required to be on the Clydesdale conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Clydesdale conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
Various online forums that I have come across warn that are a common cause of delay in East Hunsbury house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in East Hunsbury.
How does conveyancing in East Hunsbury differ for new build properties?
Most buyers of new build residence in East Hunsbury approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in East Hunsbury typically purchase 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 East Hunsbury or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one close by in East Hunsbury I like with open areas and railway links nearby, however it's only got 49 years unexpired on the lease. There is not much else in East Hunsbury in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the shortness of the lease may be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
I need to find a conveyancing solicitor for my conveyancing in East Hunsbury. I happened to land on a site which looks to be the ideal offering If there is a chance to get all formalities done via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?