It is is a decade since I purchased my property in Manningtree. Conveyancing solicitors have recently been appointed on the sale but I can't find the title documents. Is this a problem?
Don’t worry too much. First there is a possibility that the deeds will be retained by the lender or they may be in the possession of the solicitor who handled your purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring up to date copy of the land registers. The vast majority of conveyancing in Manningtree relates to registered property but in the unlikely event that your property is unregistered it adds to the complexity but is resolvable.
How does conveyancing in Manningtree differ for new build properties?
Most buyers of new build residence in Manningtree approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is built. This is because new home sellers in Manningtree typically purchase the site, 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 Manningtree or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one round the corner in Manningtree I like with a park and transport links in the vicinity, the downside is that it's only got 49 years on the lease. I can't really find anything else in Manningtree suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage that many years may be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
I am a sole trader hoping to take over a lease of a shop on the high street. Can you recommend lawyers offering competitive costs for non-domestic conveyancing in Manningtree for under £2000?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Manningtree, including the sale and purchase of businesses as well as simply property. Whether you are hoping to purchase or dispose of a shop, pub, restaurant, office, retail unit or a complete business we can find you the right solicitor. As for the fees this will depend on the structure and terms of the proposed transaction. Please provide us with your contact information or email us so that we may provide you with a detailed commercial conveyancing quote.
My step-son is embarking on her first house purchase, the home loan was agreed last week in principle. One the offer was accepted on flat we contacted the mortgage company to move forward with his. We were shocked to discover that mortgage lenders do not accept all property lawyer, they must be on their panel, is this right?
Banks ordinarily imposes restrictions either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Manningtree property lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.