At what point can the exchange of contracts take place for purchase conveyancing in Market Harborough and do I need to attend the lawyers branch?

If you are near to one of the conveyancing solicitors in Market Harborough you are invited in to sign contracts. However, the firms we work with offer a nationwide conveyancing service and provide just as diligent and professional a job for you when dealing with you by post or email. The signing of the contract is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the solicitor to exchange contracts at the suitable time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Market Harborough)to be in the office available at the end of the phone to exchange contracts.

I am buying a new build house in Market Harborough with a mortgage from Bank of Ireland. The sellers would not reduce the amount so I negotiated £7000 of extras instead. The estate agent told me not to tell my solicitor about this side-deal as it will adversely affect my loan with Bank of Ireland. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Due to the input of my in-laws I had a survey completed on a property in Market Harborough before instructing lawyers. I have been told that there is a flying freehold element to the house. The surveyor advised that some lenders may not give a loan on such a home.

It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you call us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Market Harborough. Conveyancing will be smoother if you use a solicitor in Market Harborough especially if they regularly deal with such properties in Market Harborough.

My husband and I are a couple of weeks into a leasehold purchase having been recommend to solicitors by the high street agent to do our conveyancing in Market Harborough. We are not happy. Can you you assist me in finding new solicitors?

They would need to be really bad to suggest diss instructing them. Has the mortgage been issued? If so you need to inform them of the new contact details and get the loan are issued to the new lawyers. Your new solicitor ideally should be on the lenders approved list to avoid supplemental fees and complications. That should be your starting point. The find a solicitor tool can assist you in finding a lender approved conveyancer for your conveyancing in Market Harborough

What advice can you give us when it comes to choosing a Market Harborough conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Market Harborough conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggest that you talk with several firms including non Market Harborough conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:

How experienced is the practice with lease extension legislation?

I acquired a leasehold flat in Market Harborough, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Market Harborough with an extended lease are worth £180,000. The ground rent is £65 charged once a year. The lease ends on 21st October 2083

You have 59 years remaining on your lease the likely cost is going to span between £20,900 and £24,200 plus costs.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.