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Recently asked questions about conveyancing in Market Bosworth

As someone unfamiliar with conveyancing in Market Bosworth what’s your top tip you can give me for the legal transfer of property in Market Bosworth

Not many law firms shout this from the rooftops but conveyancing in Market Bosworth or throughout England and Wales is an adversarial experience. Put another way, when it comes to conveyancing there is lots of opportunity for conflict between you and others involved in the home moving process. E.g., the seller, selling agent and even potentially your mortgage company. Selecting a lawyer for your conveyancing in Market Bosworth is a critical decision as your conveyancer is your adviser, and is the SOLE party in the transaction whose responsibility is to act in your legal interests and to keep you safe.

Sometimes a potential adversary may try and sway you that it is in your interests to do things their way. For instance, the estate agent may claim to be assisting by claiming that your lawyer is slow. Or your mortgage broker may advise you to do something that is contrary to your lawyers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.

Should our lawyer be making enquiries concerning flooding as part of the conveyancing in Market Bosworth.

The risk of flooding is if increasing concern for lawyers dealing with homes in Market Bosworth. Plenty of people will acquire a house in Market Bosworth, completely aware that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.

Conveyancers are not best placed to give advice on flood risk, however there are a various searches that can be undertaken by the buyer or on a buyer’s behalf which will figure out the risks in Market Bosworth. The conventional set of property information forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the owner to discover if the property has suffered from flooding. In the event that flooding has previously occurred which is not disclosed by the vendor, then a buyer may commence a legal claim for losses resulting from an misleading reply. A purchaser’s solicitors should also carry out an enviro search. This will disclose if there is any known flood risk. If so, more detailed inquiries will need to be conducted.

How does conveyancing in Market Bosworth differ for new build properties?

Most buyers of new build residence in Market Bosworth come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Market Bosworth usually buy 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 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 accustomed to new build conveyancing in Market Bosworth or who has acted in the same development.

I have been on the look out for a leasehold apartment up to £235,500 and identified one round the corner in Market Bosworth I like with a park and station in the vicinity, however it's only got 51 remaining years left on the lease. I can't really find anything else in Market Bosworth for this price, so just wondered if I would be making a mistake buying a short lease?

If you require a home loan the remaining unexpired lease term will be problematic. Reduce the offer 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 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.

In my capacity as executor for the estate of my father I am disposing of a property in Cardiff but reside in Market Bosworth. My lawyer (approximately 300 miles from mehas requested that I execute a stat dec ahead of completion. Could you suggest a conveyancing lawyer in Market Bosworth who can witness and place their company stamp on the document?

strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are Market Bosworth based

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