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Ready to buy a new home in Sharnbrook? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Sharnbrook transaction at risk of delay or failure.

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Recently asked questions about conveyancing in Sharnbrook

IfI was to purchase a simple residential homein Sharnbrook mortgage fee and have no survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Sharnbrook?

The only saving you would achieve is the Sharnbrook conveyancing searches. Your solicitor still be obliged to do everything else - money laundering, correspond with your vendors conveyancer, stamp duty submission, register the property etc. A marginal saving might be made by not having to register a mortgage however it won't be significant.

Just bought a detached house in Sharnbrook , What is the estimated time for the Land Registry to register my ownership? My Sharnbrook conveyancing solicitor works at snail pace, so I want to be certain that my name is recorded.

There is nothing unique when it comes to conveyancing in Sharnbrook registration formalities. Rather than based on location, timescales can adjust subject to who lodges the application, whether there are errors and whether the Land registry have to notify any third persons or bodies. At present in the region of three quarters of submission are fully addressed in less than three weeks but some can be subject to longer hold-ups. Historically registration takes place once the new owner has moved in to the premises therefore post completion formalities is not always an essential issue yet where it is urgent that the the registration takes place urgently then you or your conveyancer could communicate with the Registry to express the reasoning for the application to be prioritised.

I opted to have a survey carried out on a house in Sharnbrook ahead of instructing conveyancers. I have been told that there is a flying freehold element to the house. Our surveyor advised that some lenders tend refuse to give a mortgage on this type of premises.

It depends who your proposed lender is. Santander has different instructions from Halifax. If you contact us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Sharnbrook. Conveyancing will be smoother if you use a solicitor in Sharnbrook especially if they are familiar with such properties in Sharnbrook.

I have been pointed in your direction by a number of selling agents in Sharnbrook to get a quote from a conveyancer using your seach tool. What’s the financial incentive for Estate Agents to promote your site over and above a competitor’s?

We refuse to make any referral fee for pointing buyers and sellers in our direction. We found it would be just too difficult a fee because a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.

Do you have any top tips for leasehold conveyancing in Sharnbrook from the perspective of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Sharnbrook can be avoided if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers’ lawyers.
  • Many freeholders or managing agents in Sharnbrook levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Sharnbrook. Some Sharnbrook leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly 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 service charge figures so that they can pass this information on to the buyers or their solicitors. In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Sharnbrook state that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord approving such alterations. Should you dont have the paperwork in place you should not communicate with the landlord without contacting your conveyancer before hand. If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. 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 are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled.

Leasehold Conveyancing in Sharnbrook - Sample of Questions you should consider before Purchasing

    Please inform me if there are any major works on the horizon that will add a premium to the service costs? Most Sharnbrook leasehold flats will incur a service charge for the upkeep of the building levied on behalf of the management company. If you purchase the property you will have to pay this contribution, usually periodically throughout the year. This may differ from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent for you to pay annual, ordinarily this is not a significant amount, say around £50-£100 but you should to check it because occasionally it can be prohibitively expensive. The answer will be important as a) areas may cause problems for the building as the common areas may begin to deteriorate if repairs are not paid for b) if the leaseholders have a dispute with the managing agents you will need to know about it

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Find out more about how flying freehold can affect your the value of a property.