What is the first thing I need to know about purchase conveyancing in Queensferry?

You may not hear this from too many lawyers but conveyancing in Queensferry and elsewhere in England and Wales is often a confrontational experience. In other words, when it comes to conveyancing there exists an abundance of opportunity for conflict between you and other parties involved in the ownership transfer. E.g., the seller, property agent and sometimes the lender. Selecting a solicitor for your conveyancing in Queensferry an important selection as your conveyancer is your adviser, and is the ONLY person in the process whose responsibility is to act in your best interests and to protect you.

On occasion a potential adversary may attempt to persuade you that you should follow their advice. For instance, the selling agent may claim to be assisting by claiming that your conveyancer is wrong. Or your financial adviser may tell you to do take action that is contrary to your lawyers recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.

I am considering applying for a Virgin Money mortgage for purchase of a newly converted (under development) in Queensferry with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?

There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.

I am looking for a leasehold apartment up to £195,000 and identified one round the corner in Queensferry I like with amenity areas and transport links nearby, the downside is that it only has 61 years on the lease. There is not much else in Queensferry suitable, so just wondered if I would be making a grave error acquiring a short lease?

If you require a home loan the shortness of the lease will likely be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.

I am one month into a leasehold purchase having been referred to conveyancers by the estate agent to execute conveyancing in Queensferry. I am not happy. Can you help me find new solicitors?

They would need to be really bad to suggest replacing them. Has your loan offer been generated? In the event that it has you must inform them of the new contact details and ensure the offer are re-issued. Your new conveyancer should be on the mortgage company approved list to avoid escalating expenses and frustration. So that should be your first question of the new lawyers. The find a solicitor tool should help you find a bank approved conveyancer for your conveyancing in Queensferry

I’m about to sell my garden flat in Queensferry. Conveyancing has not commenced, however I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is discharge the service charge as usual given that all rents and service charges should be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

Leasehold Conveyancing in Queensferry - A selection of Queries Prior to buying

Its a good idea to find out as much as possible about the company managing the block as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to daily issues like the cleanliness of the common parts. Enquire of other tenants what they think of them. In conclusion, investigate as to the dates that the service charges are due to the managing agents and specifically how they are spending that money. What is the yearly service fee and ground rent? Who manages the building?