I chose a local solicitor for our conveyancing in Ruddington last week. Going through the small print it is apparent thatwe are on the hook for charges even if the movefalls through. Would I be best advised to appoint an internet conveyancing brokerage offering no-sale-no-fee conveyancing in Ruddington?

Generally there is a concession along the lines that if "No Sale No Fee" is offered then the fee levels will generally be more expensive to neutralise those conveyances that do not go ahead. Dont forget that these offerings generally do not cover expenditure such your Ruddington conveyancing search fees.

I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Ruddington. My lender is Virgin

Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 22/4/2024, the requirements read as follows :

This question may be naive but I am new to the home buying as a 1st time buyer of a two bedroom flat in Ruddington. Do I collect the keys to the property on completion from my lawyer? If so, I will use a local conveyancing solicitor in Ruddington?

On the day of completion you do not need to go to the conveyancers office in Ruddington. Conveyancing lawyers for you will electronically transfer the completion advance to the owner’s conveyancers, and shortly after the monies have arrived, you should be called to collect the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.

Can you help - my lawyer says that lack of planning permission insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Ruddington?

The appropriate level of lack of planning permission indemnity insurance should be dictated by who your lender. It would differ for example between Yorkshire Building Society and Norwich and Peterborough Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.

Can I be sure that the Ruddington conveyancing solicitor on the Barclays panel is any good?

When it comes to conveyancing in Ruddington getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer handling your conveyancing.

How does conveyancing in Ruddington differ for new build properties?

Most buyers of new build residence in Ruddington come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is built. This is because developers in Ruddington typically purchase the real estate, 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 conveyancers 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 Ruddington or who has acted in the same development.

Last December I purchased a leasehold house in Ruddington. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I acquired a 1st floor flat in Ruddington, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Ruddington with a long lease are worth £265,000. The ground rent is £50 yearly. The lease ceases on 21st October 2100

With just 76 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 as well as professional fees.

The figure 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 due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.