AssumingI were to purchase a freehold homein Mancot mortgage fee and dispense with a survey and no local authority searches how much should I expect to to save on my conveyancing in Mancot?
Any savings you would achieve will be isolated to the Mancot conveyancing searches. The lawyer is obliged to do the vast majority of work - money laundering, communicating with your sellers solicitor, SDLT return, register the title etc. You might save a bit for them not needing to register a mortgage however it won't be a lot.
My lawyer in Mancot has never been on on the Coventry Building Society Solicitor Panel. Is it possible for me to continue with my prefered solicitor notwithstanding that they are excluded from the Coventry Building Society list of approved lawyers?
Your options are as follows:
- Carry on with your existing Mancot solicitors but Coventry Building Society will need to retain a lawyer on their panel. This will inevitably rack up the overall conveyancing charges as well as cause frustration.
- Choose an alternative lawyer to to deal with the conveyancing, not forgetting to check they are on the Coventry Building Society panel
The estate agent has sent us the confirmation of our purchase of a new build flat in Mancot. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Mancot
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one near me in Mancot I like with amenity areas and transport links nearby, the downside is that it only has 51 remaining years left on the lease. There is not much else in Mancot in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan that many years will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
Am I best advised to instruct a Mancot conveyancing lawyer based in the vicinity that I am buying? An old friend can deal with the conveyancing but they are based over three hundred miles away.
The benefit of a high street Mancot conveyancing practice is that you can attend the office to sign paperwork, present your ID and apply pressure on them where appropriate. They will also have local intelligence which is a benefit. However it's more important to get someone that will do a good and efficient job. If you know people who used your friend and the majority were impressed that must trump using an unfamiliar Mancot conveyancing solicitor just because they are round the corner.