Have just purchased a repossessed house at auction in Bursledon. Conveyancing is required. What is next?

Having legally committed yourself to purchase you now have to hire the services of a conveyancing practitioner as a matter of urgency as you are faced with a pending a drop dead date to complete the transaction. Every auction property will ordinarily have a corresponding auction pack. This should include evidence of title and search results. In the case of leasehold property the auction papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You need to pass this on to your appointed conveyancing solicitor ASAP. You also need to ensure that that you have the requisite funding organised to complete on the on the contractual date .

Are all Bursledon Conveyancing Quality Solicitors on the Lloyds conveyancing list of approved solicitors?

A selection of lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.

Our sealed bid on a property in Bursledon has been accepted, the vendors do nevertheless have an associated purchase. The vendors have put an offer on a property, but it’s not yet tied up, and are looking at other flats booked. I have selected a nearby conveyancing solicitor in Bursledon. What should be my next step? When do I get the mortgage application with Leeds Building Society going?

It is usual to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of £1k, then survey, Bursledon conveyancing search charges, etc). First, you must ensure that your conveyancing practitioner is on the Leeds Building Society approved list. Concerning the next phase this very much dictated by the specifics of your transaction, motivation for this property and on the state of the market. In a hot market the majority of purchasers would apply for the mortgage with Leeds Building Society and pay for the valuation and only if it comes back ok would they ask their conveyancer to proceed with the conveyancing in Bursledon.

A friend suggested that where I am purchasing in Bursledon I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

This is a search is sometimes quoted for as part of the standard Bursledon conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Bursledon around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bursledon Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information regarding Bursledon.

I'm buying a new build house in Bursledon with a loan from Lloyds TSB Bank. The sellers would not budge the amount so I negotiated 6k of extras instead. The house builders rep suggested that I not to tell my solicitor about this side-deal as it could affect my loan with the bank. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I opted to have a survey carried out on a house in Bursledon ahead of retaining conveyancers. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some banks tend not issue a loan on this type of house.

It depends who your proposed lender is. Santander has different instructions from Nationwide. Should you wish to call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bursledon. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bursledon to see if the conveyancing will be more expensive.

Having checked my lease I have discovered that there are only Sixty One years remaining on my lease in Bursledon. I now want to extend my lease but my freeholder is can not be found. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to find the landlord. On the whole a specialist would be helpful to conduct investigations and prepare a report to be used as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court covering Bursledon.

Bursledon Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing

How much is the yearly maintenance fee and ground rent? The best form of lease arrangement is if the freehold title is in the ownership of the leaseholders. In this scenario the leaseholders benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently retained where the building is bigger than a house conversion, the managing agent is directed by the tenants. Be sure to discover if the the lease includes any onerous restrictions in the lease. For example it is fairly common in Bursledon leases that pets are not permitted in in a block in Bursledon. If you love the flatin Bursledon however your cat can’t make the move with you then you will be faced hard decision.