I am hoping to receive a mortgage with Santander. I would like to retain the legal services of a Licensed Conveyancer in Leiston. Does the Santander Solicitor panel allow for conveyancers regulated by the CLC?
The Santander approved solicitor list is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I purchased my house on 9 August and the transaction details is not yet registered. Any reason for this? My conveyancing solicitor in Leiston expressed confidence that it will be recorded inside ten days. Are transfers in Leiston particularly slow to register?
There is nothing unique about conveyancing in Leiston registration formalities. Rather than based on location, timeframes can differ depending on who lodges the application, whether there are errors and whether the Land registry communicate with any other parties. Currently approximately 80% of submission are completed in less than three weeks but some can be subject to protracted hold-ups. Historically registration takes place once the buyer is living at the premises therefore registration formalities is not always an essential issue yet if it is urgent that the the registration takes place urgently then you or your solicitor must communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Leiston differ for new build properties?
Most buyers of new build property in Leiston contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is completed. This is because house builders in Leiston tend to acquire the real estate, 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 Leiston or who has acted in the same development.
We're FTB’s - agreed a price, but the estate agent informed us that the seller will only proceed if we instruct the agent's recommended lawyers as they are insisting on a ‘quick sale’. We would rather use a high street solicitor with experience of conveyancing in Leiston
It is unlikely the sellers are driving this. Should the seller want ‘a quick sale', alienating a motivated purchaser is counter productive. Try to communicate with the sellers directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you wish to move quickly (e)but you are going to appoint your own,trusted Leiston conveyancing solicitors - not the ones that will earn the estate agent a kickback or meet his conveyancing figures set by senior management.
I own a leasehold flat in Leiston. Conveyancing was finalised in last year. I have heard that I mustn’t allow the the remaining lease term to fall too short. Why is that a problem?
Leiston domestic long term leases are for a fixed term - usually ninety nine years when they are first granted. However many flats in Leiston were constructed or converted 25 or more years ago and so these leases now have fewer than 80 years left to run. This may seem like plenty of time however Banks, Building Societies and other mortgage companies tend to need leases to have at least 75 years unexpired to adequate security. This means that when you come to sell the property you will need to extend the term of your lease if you are getting close to eighty years. To enhance the marketability of your property you should be considering whether to extend your lease well in advance of selling the property. Furthermore advantages to doing so before the lease hits 80 years as when the lease is below eighty years the amount to be paid to extend starts to escalate.