I am getting a mortgage with Santander. My intention is to employ the services of a Licensed Conveyancer in Alvechurch. Does the Santander Conveyancing panel allow for Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
How does conveyancing in Alvechurch differ for newly converted properties?
Most buyers of new build property in Alvechurch approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Alvechurch tend to purchase 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 Alvechurch or who has acted in the same development.
Is it simple use your search facility to choose a conveyancing solicitor in Alvechurch on the authorised to act for my lender?
1st choose a bank such as Yorkshire Building Society, Virgin Money or Bank of Ireland then specify your location a common one being Alvechurch. Conveyancing organisations in Alvechurch and nationally will then be identified.
Can you provide any advice for leasehold conveyancing in Alvechurch with the intention of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Alvechurch can be avoided if you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation needed by the buyers’ lawyers. A minority of Alvechurch leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. 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 nervous about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve 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 details of the dispute to the buyers, but it is better to reveal the dispute as over rather than unresolved. The majority of freeholders or Management Companies in Alvechurch charge for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Alvechurch. You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.
I am the registered owner of a basement flat in Alvechurch, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Alvechurch with a long lease are worth £227,000. The ground rent is £50 per annum. The lease comes to an end on 21st October 2097
With just 72 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
Do I cancel the direct debit for my mortgage with Leeds Building Society as soon as a completion date for my sale in Alvechurch has been set?
No, you must keep paying any mortgage sums to Leeds Building Society until the mortgage is repaid from the proceeds of sale as part of your Alvechurch conveyancing.