My bid for a property was accepted at auction in Alresford. Conveyancing is necessary. What is next?

Having exchanged you must appoint a conveyancing lawyer quickly as you are faced with a pending a drop dead date to complete the purchase. All auction property will ordinarily have a corresponding auction set of papers. This will likely include most,if not all of the paperwork that your solicitor will need. In the case of leasehold property the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You must hand this to the conveyancer instructed by you as soon as possible. Do make sure that your finances are in order to complete the transaction on the set completion date.

I had a mortgage agreed in principle with Aldermore. Alresford conveyancing solicitors were selected. How long does it take for Aldermore to forward the offer to the conveyancing practitioner?

Some lenders take longer than others. Have Aldermore done the valuation? Have you advised Aldermore as to your lawyers' details and checked that your lawyers are on the Aldermore conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.

I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Alresford bank branch on various occasions and was informed it wasn't an issue and they would lend. My Alresford conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they would not lend based on their published requirements. Who do I believe?

Provided that the solicitor is on the bank approved list, they must adhere to the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

How does conveyancing in Alresford differ for newly converted properties?

Most buyers of new build premises in Alresford come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because builders in Alresford tend to acquire the land, 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 conveyancing solicitors 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 Alresford or who has acted in the same development.

I need to instruct a conveyancing solicitor for sale conveyancing in Alresford. I've discover a site which appears to be the ideal offering If there is a chance to get all formalities done via phone that would be preferable. Do I need to be concerned? What should out be looking out for?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I am in need of some leasehold conveyancing in Alresford. Before I set the wheels in motion I require certainty as to the remaining lease term.

Assuming the lease is registered - and most are in Alresford - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Alresford Leasehold Conveyancing - Examples of Queries Prior to Purchasing

You will want to find out as much as possible about the managing agents as they can either make living at the property much easier or much more difficult. As the owner of a leasehold property you are often in the clutches of the managing agents both financially and when it comes to daily matters like the cleanliness of the common parts. Enquire of prospective neighbours what they think of their service. On a final note, be sure you know the dates that you are obliged pay the service charge to the relevant party and precisely what it includes. The prefered form of lease arrangement is a share of the freehold. In this arrangement the tenants have being in charge if their destiny and although a managing agent is often retained where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. On the whole the cost for major works tend not to be included within service charges, albeit that some managing agents in Alresford ask leaseholders to pay into a sinking fund and this is used to offset against major repairs or maintenance.

Why do Alresford conveyancing charges are more expensive for leasehold and freehold properties?

Inevitably there is increased work needed in leasehold conveyancing. Alresford has many leasehold properties. There is more time involved in the purchase: for example, the lease and leasehold information (including current service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.