Can you explain why leasehold purchase conveyancing in Great Missenden costs more?
Great Missenden 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.
I am selling my flat in Great Missenden. Will my property lawyer have to be on the Nationwide conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide 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 conditions fairly frequently at the moment.
If you had a top tip for choosing a conveyancing solicitor in Great Missenden what would it be?
We would encourage you not to base your choice on the cheapest Great Missenden 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 know exactly what you’ll have to pay in ahead of the deal.
Is it the case that all Great Missenden solicitor firms on the Clydesdale conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Clydesdale approved list of solicitors they would need to be overseen by the SRA. Some lenders do allow licenced conveyancers on their panel and in that case the organisation would be regulated by the Council of Licensed Conveyancers.
I've digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Great Missenden solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Great Missenden postcode. As you are getting a mortgage with Bank of Ireland, you could contact them to see if they have a list of approved surveyors in Great Missenden.
Over the last few months I have been searching for a flat up to £245,000 and found one near me in Great Missenden I like with amenity areas and transport links nearby, the downside is that it only has 49 years on the lease. There is not much else in Great Missenden in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
I am downsizing from my home. My previous conveyancers has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Great Missenden if that makes things easier.
Do use our search tool to help you find a solicitor for your conveyancing in Great Missenden. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.