I can't travel far from Cotham. I would like to know the understand why all Cotham conveyancing practitioners are not on all bank panels?
Even though it may seem unfair for banks to limit who can act for them, from the public’s or lawyer’s standpoint, the other side of the coin is that lending institutions are increasingly anxious and regard it crucial to defend themselves from mortgage fraud. As a result of this concern banks have restricted their conveyancing panel to a size that they are happy to control.
At what point does exchange of contracts take place for sale conveyancing in Cotham and am I required to attend the solicitors branch?
If you are in close proximity to one of the conveyancing solicitors in Cotham you are invited in to sign the paperwork. That being said, the firms we work with supply a nationwide conveyancing service and provide just as detailed and professional a job for you when communicating with you electronically. The signing of the contract is not the important part. Signing on the dotted line is just a prerequisite for the solicitor to officially exchange when the time is right, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Cotham)to be in the office at the appropriate time.
How does conveyancing in Cotham differ for new build properties?
Most buyers of new build residence in Cotham come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Cotham tend to acquire 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 Cotham or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £245,000 and found one close by in Cotham I like with a park and transport links nearby, however it's only got 49 years unexpired on the lease. There is not much else in Cotham suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease may be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
I need to find a conveyancing solicitor for some conveyancing in Cotham. I've stumble across a web site which appears to be the ideal answer If it is possible to get all formalities completed via phone that would be ideal. Should I be concerned? What are the potential pitfalls?
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?