Why is leasehold purchase conveyancing in Nuneaton costs more?

Nuneaton leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

I need some expedited conveyancing in Nuneaton as I am under pressure to sign on the dotted line within 3 weeks. A mortgage is not required. Can I decline from having conveyancing searches to save money and time?

As you are not getting a home loan you are at free not to have searches carried out although no lawyer would advise that you don't. Drawing on our experience of conveyancing in Nuneaton the following are examples of issues that can be revealed and therefore impact the marketability of the property: Enforcement Actions, Outstanding Fees, Overdue Grants, Unadopted Roads,...

Over the last few months I have been searching for a ground for flat up to £235,500 and found one near me in Nuneaton I like with a park and station nearby, however it only has 51 years on the lease. I can't really find anything else in Nuneaton in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?

If you need a home loan the shortness of the lease will be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.

I'm refinancing my primary home to a buy to let loan with Bank of Scotland and intend to use the remaining equity as a down payment on another property. The location we are talking about is Nuneaton. Will your solicitors be able to act for both sets of lenders and tie in the two deals?

Do use our search tool on this page to check that the lawyers are approved by both mortgage companies. Assuming that they are the lawyer will be able to connect the two deals but you should talk with you conveyancer and make apparent your desired outcome and requirements.

My property lawyer in Nuneaton is asking me for proof of ID documents asserting that this is part of his retainer as a solicitor on the bank Solicitor panel. Can you confirm whether this is the case?

Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the bank. This is not specific to conveyancing in Nuneaton