Can you explain why leasehold purchase conveyancing in Knutsford costs more?
Knutsford leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
We're in Knutsford, First timers buying with a mortgage (lender is UBS , and our lawyer is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have been told that property searches are a common cause of delay in Knutsford house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances in the conveyancing process. Searches are not likely to feature in any delay in conveyancing in Knutsford.
How does conveyancing in Knutsford differ for new build properties?
Most buyers of new build or newly converted property in Knutsford come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in Knutsford typically buy the real estate, 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 conveyancers 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 Knutsford or who has acted in the same development.
Midway through the sale of a leasehold flat in Knutsford. Conveyancing lawyers are doing their job but we have been asked to pay a fortune from the freeholder. So far we have issued a cheque for £250 for a leasehold management information and then a further £117.20 for additional queries raised by the buyers lawyer.
You will not have control over the level of the charges for this information however the typical fee for the information for Knutsford leasehold premises is £355. For Knutsford conveyancing sales it is usual for the vendor to cover the charges. The landlord or their agents are under no statutory obligation to answer these questions although many will be content to do so - albeit often at high prices disproportionate to the work involved. Unfortunately there is no statute that requires set fees for administrative tasks. There is no legal time limit by which they are duty bound to issue answers.