At what point can the exchange of contracts happen for domestic conveyancing in Eastleigh and am I required to attend the lawyers office?

If you are round the corner to one of the conveyancing solicitors in Eastleigh you are welcome to attend to sign contracts. That being said, the lender approved solicitors we work with supply a nationwide conveyancing service and provide just as diligent and professional a job for you when communicating with you electronically. The executing of the purchase agreement is not when everything is set in stone. A signed contract is just a prerequisite for the solicitor to address the formalities at the appropriate time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Eastleigh)to be in the office at the appropriate time.

Me and my partner are buying a house in Eastleigh. I might seem paranoid but how we can trust a solicitor? At some point we have to send funds into their account. What is the protection we have from them run away with our money?

Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.

If you had a top tip for choosing a conveyancing solicitor in Eastleigh what would it be?

Do not opt for the lowest Eastleigh conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.

I have finally had an offer on a maisonette in Eastleigh accepted, the vendors do nevertheless have a dependent purchase. The owners have placed an offer on somewhere, however it’s not yet tied up, and have viewings of other flats booked. I have selected a nearby conveyancing solicitor in Eastleigh. What should be my next step? At what point should I apply for the mortgage with Coventry BS?

It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of £1k, then valuation, Eastleigh conveyancing search fees, etc). First, you must ensure that your solicitor is on the Coventry BS conveyancing panel. Regarding the next phase this very much dictated by the uniqueness of your case, attraction to this property and on the state of the market. In a hot market some home buyers would apply for a home loan with Coventry BS and pay for the valuation and only if it was satisfactory would they request their solicitor to move forward with the conveyancing in Eastleigh.

I am a sole trader intending to lease a unit on the high street. Can you recommend lawyers offering fixed costs for commercial conveyancing in Eastleigh for under £1,200?

We can recommend firms who host a wealth of experience of commercial conveyancing in Eastleigh, including the disposal and purchase of businesses as well as simply property. If you are intending to buy or lease a shop, pub, restaurant, office, retail premises or a whole business we can put you in touch with the right firm. Regarding the fees this will depend on the structure and terms of the proposed transaction. Please provide us with your details or email so as to enable us to furnish you with a detailed commercial conveyancing calculation.

I am looking at a two flats in Eastleigh both have about 50 years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Eastleigh is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most buyers and lenders, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Eastleigh conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am the registered owner of a leasehold flat in Eastleigh, conveyancing having been completed in 2001. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Eastleigh with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ends on 21st October 2078

With only 54 years left to run we estimate the price of your lease extension to be between £32,300 and £37,400 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.

Is there a reason that Eastleigh conveyancing charges are higher for leasehold and freehold properties?

When purchasing a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control