This question may be naive but I am wet behind the ears as a first time purchaser of a garden flat in Booker. Do I receive the keys to the premises on the completion date from my lawyer? If this is the case, I will appoint a local conveyancing solicitor in Booker?

There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the purchase money to the vendor’s solicitors, and once they have received this, you will be invited to collect the keys from the selling Agents and start moving into the property. Usually this occurs early afternoon.

I have a mortgage with Kent Reliance for my property in Booker. Conveyancing has been completed 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?

Kent Reliance must be informed of your intention in advance of letting out your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel solicitor.

Virgin Money have agreed my mortgage in principle, my bid on a property in Booker has been agreed to, what happens next?

Your property agent will wish to know who your solicitors are (ensure that the lawyers are on the bank’s approved list). Contact Virgin Money or the financial adviser and finalise any appropriate forms. Virgin Money will sellect a valuer who will get in contact with the estate agent or seller to arrange a slot for the valuation to take place. Once carried out (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Virgin Money will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Booker.

I require expedited conveyancing in Booker as I am under a deadline to complete in less than 3 weeks. Luckily I do not need a mortgage. Is it possible to escape the need for conveyancing searches to save fees and time?

If.Given you are are a mortgage free buyer you have the choice not to have searches conducted although no conveyancer would recommend that you don't. Drawing on our experience of conveyancing in Booker the following are examples of what can show up and therefore affect future mortgageability: Enforcement Notices, Outstanding Fees, Outstanding Grants, Road Schemes,...

I'm converting the mortgage on my primary property to a BTL mortgage with Platform Home Loans Ltd and I will use the rest of the raised equity as a down payment on another house. The location we are interested in is Booker. Will your conveyancers be able to act for the two banks and link together the conveyances?

Do use our search tool on this site to be sure that the solicitors are on the relevant lender panels. Assuming that they are your solicitor should be able to simultaneously deal with the two conveyancing matters but you should talk with you solicitor and make apparent your expectations and needs.

Is it best to appoint a Booker conveyancing lawyer based in the vicinity that I am purchasing? We have a good friend who can conduct the conveyancing but her office is 200kilometers drive away.

The primary upside of using a high street Booker conveyancing firm is that you can pop in to sign documents, hand in your ID and pester them where appropriate. They will also have local insight which is a bonus. However it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and the majority were happy that must outweigh using an unfamiliar Booker conveyancing solicitor just because they are Booker based.

I am tempted by the attractive purchase price for a couple of flats in Booker which have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Booker is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and mortgage companies, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Booker conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

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

It would be wise to discover as much as possible concerning the company managing the block as they can either make your life much simpler or problematic. As the owner of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to daily matters like the tidiness of the communal areas. You should not be afraid to ask prospective neighbours what they think of their service. On a final note, be sure you understand the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money. What is the maintenance charge and ground rent on the flat?