Will conveyancers request money on account for my conveyancing in Lifton?
Where you are retaining lawyers for conveyancing in Lifton your solicitor will ask you place them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. If any down payment is payable against the total price then this will be required immediately ahead of contracts are exchanged. The final balance that is due should be sent to your lawyer shortly before completion.
How do I discover of the solicitor conducting my conveyancing in Lifton is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for National Westminster Bank thus spending £187.00 plus VAT in additional conveyancing invoice.
You should make use of the find a conveyancing panel solicitor tool on this web page. Please choose the mortgage company and type ‘Lifton’ or your location and you will discover a number of lawyer based in Lifton or near you.
I used Arc property Solicitors a few years past for my conveyancing in Lifton. Now, I need the files but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Lifton of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Lifton differ for newly converted properties?
Most buyers of new build or newly converted property in Lifton approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is built. This is because new home sellers in Lifton typically acquire 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 Lifton or who has acted in the same development.
We own a leasehold flat in Lifton. Conveyancing was finalised in 2009. I have read on various consumer forums that I mustn’t let the lease length get too short. What is the reasoning?
Lifton leasehold properties are for a prescribed period - usually 99 years when they started. However a significant appartments in Lifton were constructed or converted in the 70’s80’s and so these leases now have less than 80 years remaining. That may seem like a long time but Banks, Building Societies and other mortgage lenders on the whole need leases to have a minimum of 75 years unexpired to be mortgageable. Accordingly when you come to sell the property you will need to extend the term of your lease if you are approaching eighty years. To increase your property value you should be considering whether to extend your lease long before you come to sell it. Furthermore significant benefits to doing so before the lease reaches even eighty years as when the lease is below eighty years the premium to be paid to extend starts to get a lot more expensive.