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Find a Heath Hayes Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Heath Hayes? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Heath Hayes home move at risk of delay or failure.

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Recently asked questions about conveyancing in Heath Hayes

The owners have very brash vendors who has suggested a lock out agreement with a payment 10k. Are such agreements sensible?

Lock out agreements are agreements between a home vendor and prospective buyer granting the buyer exclusive rights to the sale of the property for a set period of time. For all intents and purposes, an exclusivity agreement is a contract stating that you should be issued with a contract at a later time which is the main conveyancing contract. It tends to be utilised for buyer assurance though in some cases, the seller may enjoy an upside from such agreements as well. There are many pros and cons to having an agreement but you should to check with your solicitor but beware that it may end up incurring more in conveyancing fees. For these reasons these agreements are not popular in relation to conveyancing in Heath Hayes.

I am considering applying for a Nationwide mortgage for purchase of a new build (under development) in Heath Hayes with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Nationwide ?

In theory, you could use a solicitor that is not on the Nationwide conveyancing panel, but Nationwide would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.

Should our solicitor be asking questions regarding flooding during the conveyancing in Heath Hayes.

The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Heath Hayes. Plenty of people will acquire a property in Heath Hayes, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.

Lawyers are not best placed to give advice on flood risk, however there are a number of searches that can be undertaken by the buyer or on a buyer’s behalf which will figure out the risks in Heath Hayes. The standard information supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the seller to determine if the premises has suffered from flooding. If the premises has been flooded in past and is not revealed by the vendor, then a buyer could issue a compensation claim resulting from an inaccurate response. A buyer’s conveyancers will also commission an enviro search. This will disclose if there is a recorded flood risk. If so, more detailed investigations should be made.

How does conveyancing in Heath Hayes differ for newly converted properties?

Most buyers of new build or newly converted property in Heath Hayes contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Heath Hayes 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 Heath Hayes or who has acted in the same development.

I've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Heath Hayes. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Heath Hayes ?

Most houses in Heath Hayes are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are buying in Heath Hayes in which case you should be looking for a Heath Hayes conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer should advise you fully on all the issues.

I am the registered owner of a 1st floor flat in Heath Hayes, conveyancing was carried out June 2003. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Heath Hayes with a long lease are worth £186,000. The ground rent is £55 charged once a year. The lease comes to an end on 21st October 2077

With 53 years unexpired we estimate the price of your lease extension to be between £27,600 and £31,800 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

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