When will exchange of contracts happen for purchase conveyancing in Redfield and am I required to be at the conveyancers office?
If you are round the corner to one of the conveyancing solicitors in Redfield you are welcome to attend to sign documents. That being said, the law practices we work with offer a national conveyancing service and provide as equally diligent and professional a job for you when communicating with you digitally. The executing of the purchase agreement is not the point of no return. Signing on the dotted line simply enables the solicitor to exchange contracts when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Redfield)to be in the office available at the end of the phone to exchange contracts.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Redfield. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 15/1/2019, the requirements read as follows :
Due to the input of my in-laws I had a survey completed on a property in Redfield ahead of retaining lawyers. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some banks will refuse to grant a mortgage on such a home.
It varies from the lender to lender. HSBC has different requirements from Halifax. If you e-mail us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Redfield. Conveyancing will be smoother if you use a solicitor in Redfield especially if they are familiar with such properties in Redfield.
What are your top tips when it comes to finding a Redfield conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Redfield conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Redfield conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
Can they put you in touch with clients in Redfield who can give a testimonial?
I bought a garden flat in Redfield, conveyancing formalities finalised 9 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Redfield with over 90 years remaining are worth £181,000. The ground rent is £55 charged once a year. The lease finishes on 21st October 2070
With 51 years left to run we estimate the price of your lease extension to be between £30,400 and £35,200 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
I purchased a house in Redfield last 15/12/2017 and to date it is still not recorded with HM Land Registry. It was part of a development site and my lawyer told me that it can take one year to register. I have called HM Land Registry directly and they have informed me the initial application was cancelled due to questions not being addressed in time. Should I be concerned?
It is your lawyer that you must get in touch with in order to satisfy any issues which have been raised as part of the registration formalities for your Redfield property. Normal Redfield conveyancing practice includes an undertaking on the part of the seller's solicitor that they will help resolve any requirements raised by HMLR so it may be a case of taking action to enforce that undertaking in some way.