We're in Markfield, FTBs buying with a mortgage (lender is Aldermore , and our lawyer is on the Aldermore conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Aldermore conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am helping my aunt sell her flat in Markfield. Will the conveyancer arrange an energy assessment or it is for the owner to coordinate?
Following the demise of HIPs, EPC’s was left as a required part of moving property. An energy performance certificate must be to hand before the property is advertised. It is not as aspect of the sale process that lawyers ordinarily arrange. If you are using a Markfield conveyancing lawyer they may be able to arrange energy assessments given their relationships with long established local assessors
Planning on purchasing a apartment in Markfield. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the HSBC conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Markfield conveyancer is on the HSBC conveyancing panel.
Co-operative have agreed my mortgage in principle, my offer on a apartment in Markfield has been agreed to, now what?
The property agent will want to know who your solicitors are (ensure that the property lawyers are on the bank’s panel). Contact Co-operative or your broker and finish off any appropriate paperwork. Co-operative will instruct a valuer who will get in touch with the estate agent or vendor to arrange an appointment. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. Co-operative will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Markfield.
I require fast conveyancing in Markfield as I am under an ultimatum to exchange contracts within 4 weeks. Luckily I do not need a mortgage. Can I escape the need for conveyancing searches to save fees and time?
As you are not getting a home loan you have the choice not to do searches although no conveyancer would advise that you don't. Drawing on our experience of conveyancing in Markfield the following are instances of what can appear and adversely affect future mortgageability: Refused Planning Applications, Overdue Charges, Overdue Grants, Unadopted Roads,...
Are there restrictive covenants that are commonly identified during conveyancing in Markfield?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Markfield. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a flat up to £305k and identified one round the corner in Markfield I like with open areas and railway links in the vicinity, however it's only got 61 years on the lease. There is not much else in Markfield for this price, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the shortness of the lease may be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.