IfI were to buy a simple residential propertyin Sea Mills for cash and have no survey and no conveyancing searches how much would I expect to to save on my conveyancing in Sea Mills?
Any savings you would achieve would be limited to the costs for searches. The solicitor is required to do the vast majority of work - money laundering, liaising with the sellers conveyancing practitioner, SDLT return, register the property etc. You might save a bit for them not needing to register a mortgage but it won't be meaningful.
Just bought a semi-detached house in Sea Mills , how long should it take for the Land Registry to register my proprietorship? My Sea Mills conveyancing solicitor works at snail pace, so I want to check that my purchase is registered.
As far as conveyancing in Sea Mills is concerned, registration is no quicker or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can differ subject to the party submitting the application, whether it is in order and if the Land registry need to notify any other parties. Currently roughly 80% of such applications are completed within two weeks but some can be subject to longer hold-ups. Historically registration takes place once the buyer is living at the property so an expedited registration is not usually top priority yet if there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Sea Mills differ for newly converted properties?
Most buyers of new build or newly converted property in Sea Mills approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Sea Mills 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 used to new build conveyancing in Sea Mills or who has acted in the same development.
I opted to have a survey completed on a property in Sea Mills ahead of retaining solicitors. I have been told that there is a flying freehold element to the property. My surveyor has said that some lenders tend refuse to give a mortgage on a flying freehold premises.
It varies from the lender to lender. Santander has different instructions for example to Halifax. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Sea Mills. Conveyancing may be slightly more expensive based on your lender's requirements.
Do you have any advice for leasehold conveyancing in Sea Mills from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Sea Mills can be bypassed if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives. You may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is below 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Sea Mills leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord acquiescing to such works. If you dont have the consents to hand do not contact the landlord without checking with your lawyer in the first instance. If there is a history of conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over rather than unresolved. A minority of Sea Mills leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
Leasehold Conveyancing in Sea Mills - Sample of Questions you should ask Prior to buying
Most Sea Mills leasehold properties will be liable to pay a service bill for the upkeep of the block invoiced on behalf of the landlord. Where you acquire the property you will have to pay this contribution, usually in instalments accross the year. This may be anything from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge to be met yearly, normally this is not a significant amount, say approximately £25-£75 but you need to enquire it because on occasion it could be many hundreds of pounds. What is the yearly service fee and ground rent? How long is the Lease?