Having sold my house in East Barming last May but our buyer keeps SMS messaging me complaining that their lawyer is waiting to hear from myconveyancer. What are the post completion sale formalities following completion?
After completion of your house sale your lawyer should send the transfer deeds and all of the paperwork to the buyer’s lawyers. If applicable, your solicitor must also send confirmation that the home loan has been discharged to the buyers lawyers. There are no post completion procedures unique to conveyancing in East Barming.
I am purchasing a semi-detached house in East Barming. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in East Barming you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in East Barming.
What is your number one tip for finding a conveyancing solicitor in East Barming
It would be unwise to be swayed by the cheapest East Barming conveyancing quote. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
Two weeks ago we had a mortgage agreed in principle with UBS. East Barming conveyancing practitioners were chosen. What is the average time that one could expect to receive a mortgage offer from UBS?
There is no definitive answer here. Have UBS done the survey? Have you advised UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
It is unclear whether my mortgage offer requires a lease extension. I have called into my local East Barming bank branch on a couple of occasions and was told it does not impact the mortgage offer and they will lend. My East Barming conveyancing solicitor - who is on the lender conveyancing panel- called to say that they would not lend in accordance with their published requirements. Who do I believe?
Provided that the lawyer is on the mortgage company approved list, they must adhere to the CML Handbook specifications 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Do commercial conveyancing searches disclose planned roadworks that may impact a commercial site in East Barming?
Many commercial conveyancing solicitors in East Barming will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in East Barming. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in East Barming.
For every commercial conveyancing transaction in East Barming it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to East Barming commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in East Barming.
I've recently bought a leasehold flat in East Barming. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a garden flat in East Barming, conveyancing was carried out 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in East Barming with over 90 years remaining are worth £216,000. The ground rent is £50 levied per year. The lease terminates on 21st October 2094
With 69 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other 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 based on this information without first seeking the advice of a professional.