Why do I have to pay up front for conveyancing in Langstone?
If you are buying a property in Langstone your lawyer will request that you to provide them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the purchase price then this will be asked for immediately prior to exchange of contracts. Any further balance that is due should be sent to your lawyer a few days prior to the completion date.
How does conveyancing in Langstone differ for new build properties?
Most buyers of new build property in Langstone contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is completed. This is because developers in Langstone 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 conveyancers 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 accustomed to new build conveyancing in Langstone or who has acted in the same development.
How do I identify a Langstone solicitor on the Godiva Mortgages Ltd conveyancing panel? I am a keen cyclist and am happy to travel upto 10miles to meet the lawyer.
You can use the facility on this website. Please choose the bank and your location and you will see a number of Langstone conveyancing lawyers located nearest you. We have detailed some Langstone conveyancing firms towards the end of this page and you can ring them to see if they are on the Godiva Mortgages Ltd member panel
I today plan to offer on a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Langstone. Conveyancing advisers have are about to be appointed. Will they explain the issues?
Most houses in Langstone are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. it is apparent that you are purchasing in Langstone in which case you should be looking for a Langstone conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.
Langstone Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
It would be prudent to discover if there is anything that is prohibited in the lease. By way of example it is reasonably common in Langstone leases that pets are not allowed in certain buildings in Langstone. If you like the flatin Langstone yet your dog can’t move with you then you will be presented with a hard decision. How much is the ground rent and service charge? If a Langstone lease has fewer than 80 years it will have adverse implications on the marketability of the property. It is worth checking with your bank that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will most likely need a lease extension sooner rather than later and it is worth finding out how much this would cost. Remember, in most cases you would need to own the premises for 24 months before you are legally able to exercise a lease extension.
The estate agent has recommended their solicitor for our conveyancing in Langstone - Is it not simpler advisable to just use them?
It is worth checking if the selling agent is recommending a solicitor or introducing to a solicitor. There are plenty of Langstone estate agents who recommend two or three Langstone conveyancing firms purely based on those lawyers offering a great service.