As someone not used to conveyancing in Malvern what is the number one tip you can impart for the ownership transfer in Malvern
Not many law firms shout this from the rooftops but conveyancing in Malvern and elsewhere in England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there is lots of room for confrontation between you and other parties involved in the transaction. E.g., the seller, selling agent and even potentially your mortgage company. Choosing a solicitor for your conveyancing in Malvern should not be taken lightly as your conveyancer is your adviser, and is the ONE person in the process whose interest is to act in your legal interests and to keep you safe.
On occasion a potential adversary will attempt to persuade you that it is in your interests to do things their way. For example, the property agent may claim to be assisting by claiming that your solicitor is dragging his heels. Or your financial adviser may try to convince you to do something that is against your solicitors advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
How does conveyancing in Malvern differ for newly converted properties?
Most buyers of new build or newly converted property in Malvern come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because developers in Malvern usually 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 conveyancing solicitors 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 Malvern or who has acted in the same development.
I decided to have a survey completed on a property in Malvern ahead of appointing lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some lenders may refuse to grant a loan on such a house.
It varies from the lender to lender. HSBC has different requirements from Nationwide. If you contact us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Malvern. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Malvern to see if the conveyancing costs will increase in light of this.
Do I need to be suspicious that estate agents that I am dealing with are encouraging me to use a factory type conveyancing firm rather than a High Street Malvern conveyancing practice?
As with lots of professional services, often suggestions from relatives can be worth their weight in gold. But there are lots of people with a keen interest in a conveyancing matter; estate agents, financial adviser and mortgage companies might all put forward lawyers to appoint. Sometimes these solicitors might be known to one of the organisations as being good in their field, but occasionally there might be a commercial relationship behind the endorsement. You have the discretion to select your own conveyancer. Don't forget that many mortgage providers specify a panel list of law firms you have to use for the mortgage aspect of your house move.
We are midway through buying a residence in Malvern. Conveyancing solicitor has phoned to say the property is "Leasehold". Should this impact our Natwest valuation?
Malvern conveyancing does not normally involve leasehold houses. The main factor here is the length of lease and the ground rent. If there are hundred of years years remaining with a peppercorn rent, it's almost the same as freehold, so it’s unlikely to impact the marketability too much.
On the flip side, if it's, say, 50 years it will have a adverse effect on the value, and most likely wouldn't be acceptable to the lender. The length of lease and ground rent will be specified in the lease provided to your solicitor.