When will exchange of contracts take place for purchase conveyancing in Eye and am I required to be at the lawyers office?

If you are in close proximity to one of the conveyancing solicitors in Eye you are invited in to sign the paperwork. That being said, the law practices we work with supply a national conveyancing service and give as equally detailed and professional a job for you when dealing with you electronically. The executing of the sale agreement is not when everything is set in stone. A signed contract simply enables the conveyancer to address the formalities when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Eye)to be in the office available at the end of the phone to exchange contracts.

When it comes to mortgage companies such as , do Eye face a yearly amount to be on the list of approved solicitors?

We are not aware of any bank fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.

Last month we had a mortgage agreed in principle with . Eye conveyancing solicitors were appointed. How long does it take for to forward the offer to the ?

Some lenders take longer than others. Have conducted the valuation? Have you informed as to your lawyers' details and checked that your lawyers are on the conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.

I currently have a mortgage with for my property in Eye. Conveyancing has been completed some time ago. In the event that I decide 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 ?

Your original mortgage agreement with will provide that you need their approval before renting your property as this is likely to be a breach of ’s mortgage conditions. It may be that 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 directly. You need not do this via a conveyancing panel solicitor.

I am close to exchanging contracts on the sale of our property in Eye and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers used an internet conveyancing firm as opposed to a conveyancing solicitor in Eye. Having lived in Eye for 5 years we know of no issue. Should we contact our local Authority to obtain clarification that there is no issue.

It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)

I am looking for a leasehold apartment up to £305k and found one near me in Eye I like with open areas and station nearby, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Eye in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?

Should you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.

Eye Leasehold Conveyancing - A selection of Queries Prior to Purchasing

How much is the maintenance charge and ground rent on the property? You will want to discover as much as you can regarding the company managing the block as they will either make living at the property much simpler or uncomfortable. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to day to day issues like the tidiness of the communal areas. Enquire of other people whether they are happy with their management. Finally, find out the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money. What restrictions exist in the Eye Lease?