How does conveyancing in Ringmer differ for newly converted properties?
Most buyers of new build property in Ringmer approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Ringmer usually acquire 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 property lawyers 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 Ringmer or who has acted in the same development.
I decided to have a survey done on a property in Ringmer before appointing conveyancers. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some lenders may refuse to grant a loan on such a house.
It varies from the lender to lender. HSBC has different requirements from Nationwide. If you contact us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ringmer. Conveyancing may be slightly more expensive based on your lender's requirements.
Should I be suspicious that brokers that I am dealing with are encouraging me to use a factory type conveyancing firm as opposed to a local Ringmer conveyancing firm?
As is the case with many service providers, often referrals from relatives can be worth their weight in gold. But there are numerous parties with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies may recommend solicitors to appoint. Sometimes these conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there exists a commercial relationship behind the endorsement. You have the right to choose your preferred lawyer. However, bear in mind that some mortgage providers specify a panel list of conveyancers you have to use for the lender aspect of your transaction.
In my capacity as executor for the estate of my grandfather I am selling a property in Cardiff but live in Ringmer. My solicitor (who is 200 kilometers awayrequires that I sign a stat dec prior to completion. Could you suggest a conveyancing practitioner in Ringmer who can attest and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are Ringmer based
Back In 2005, I bought a leasehold house in Ringmer. Conveyancing and Yorkshire Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Ringmer who acted for me is not around. What should I do?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Ringmer conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a studio flat in Ringmer, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Ringmer with an extended lease are worth £207,000. The average or mid-range amount of ground rent is £60 per annum. The lease finishes on 21st October 2076
You have 57 years left to run we estimate the premium for your lease extension to range between £28,500 and £33,000 plus professional fees.
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 in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.