The housing market in Ripley is heating up. What can I do to expedite matters?

First, If you are under time constraints to exchange we would recommend that your conveyancer is familiar with the location as they will make use of local relationships and knowledge. It is even conceivable that they could have handled otherproperties in the same road. Therefore consider using a Ripley conveyancing firm. In addition, double check that the lawyer is on the on the approved list for your mortgage company. It is said that nearly one in five of Ripley conveyancing deals are frustrated or jeopardised after discovering a purchaser’s lawyer was not on their mortgage lender’s panel. This can often result in the home move being held up by as much as three weeks. It is estimated that this issue impacts in the region of one hundred thousand home sales every year. Many Ripley conveyancing practices can not act for certain banks so do check at the outset.

My aunt advised me that in buying a property in Ripley there may be various restrictions prohibiting external changes to a property. Is this right?

There are a number of properties in Ripley which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Ripley should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

Can I be sure that the Ripley conveyancing solicitor on the HSBC panel is any good?

When it comes to conveyancing in Ripley getting recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor carrying out your transaction.

I have a mortgage with Co-operative for my property in Ripley. Conveyancing was finalised some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Co-operative?

Your original mortgage agreement with Co-operative will provide that you need their approval prior to letting out your property as this is likely to be a breach of Co-operative’s mortgage conditions. It may be that Co-operative will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Co-operative directly. You need not do this via a Co-operative conveyancing panel lawyer.

Over the last few months I have been searching for a flat up to £245,000 and found one close by in Ripley I like with a park and station in the vicinity, however it's only got 51 remaining years left on the lease. There is not much else in Ripley in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?

Should you require a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.

All being well we will complete the disposal of our £150,000 maisonette in Ripley in nine days. The landlords agents has quoted £300 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Ripley?

For most leasehold sales in Ripley conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

Completing conveyancing due diligence enquiries Where consent is required before sale in Ripley Copies of the building insurance and schedule Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Ripley leasehold premises is £350. For Ripley conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

Leasehold Conveyancing in Ripley - Examples of Questions you should ask before Purchasing

How much is the ground rent and service charge? You should want to find out as much as possible regarding the company managing the building as they can either make life much easier or problematic. As the proprietor of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to every day issues such as the tidiness of the communal areas. You should not be afraid to ask other tenants what they think of them. In conclusion, be sure you know the dates that you are obliged pay the service charge to the relevant party and precisely what you get for your money. Please note that where the lease has no more than 80 years it will have adverse implications on the salability of the property. Check with your bank that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth finding out what this would cost. For most Ripleylease extensions you will be be obliged to have been the owner of the premises for two years before you are eligible to extend the lease.

Me and my wife have recently had an offer accepted on our 1st home in Ripley, and are now looking to get solicitors instructed. I have utilised the different comparison tools and the results are from all over the the UK. Is it important to have a Ripley lawyer local to the potential property? We are content to do everything electronically, but I assume at some point we will need to visit the lawyer's office to sign papers?

There is no requirement to attend the office of your property lawyer, they can send any relevant documents to you, which you can sign and return. Many buyers and sellers nevertheless opt to instruct a locally based solicitor, but it is not a prerequisite for conveyancing in Ripley.