My partner and I have organised a further advance on our mortgage from Santander as we wish to conduct improvements to our house in South Cave. Are we obliged to choose a nearby South Cave solicitor on the Santander conveyancing panel to handle the legals?
Santander don't usually appoint a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Santander conveyancing panel.
I am currently in the process of buying my council flat in South Cave. I have a mortgage offer with Yorkshire BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
Our offer on a semi in South Cave has been agreed to, the owners do however have a connected purchase. The sellers have offered on somewhere, however it’s not yet tied up, and are looking at other properties in the pipeline. I have selected a nearby conveyancing solicitor in South Cave. What do I do now? When should I get the mortgage application with HSBC started?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx one thousand pounds, then survey, South Cave conveyancing search costs, etc). The first thing to do is ensure that your solicitor is on the HSBC conveyancing panel. Regarding the subsequent phase this very much dictated by the uniqueness of your case, desire for the property and on the state of the market. During a buoyant market the majority of buyers would apply for a home loan with HSBC and arrange for the valuation and only if it comes back ok would they pay their solicitor to move forward with the conveyancing in South Cave.
How does conveyancing in South Cave differ for newly converted properties?
Most buyers of new build or newly converted property in South Cave come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is finished. This is because developers in South Cave tend to buy 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 South Cave or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a straight forward, no chain conveyancing. South Cave is the location of the property. What do you suggest?
Flying freeholds in South Cave are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in South Cave you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Cave may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Do you have any top tips for leasehold conveyancing in South Cave with the aim of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in South Cave can be reduced where you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers’ conveyancers. You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease 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 property would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in South Cave state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such works. Should you dont have the consents in place do not contact the landlord without contacting your conveyancer first. If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unresolved. The majority of landlords or managing agents in South Cave charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in South Cave.
South Cave Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing
How is the lease structured? This information is important as a) areas could result in problems in the block as the communal areas may start to deteriorate if maintenance are not paid for b) if the leaseholders have a dispute with the managing agents you will want to have all the details How long is the Lease?
When it comes to my conveyancing in South Cave should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some South Cave conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.