Should lawyers request money up-front for conveyancing in Speke?

Where you are retaining lawyers for conveyancing in Speke your lawyer will request that you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the purchase price then this will be asked for immediately before exchange of contracts. The closing balance that is needed will be payable shortly before completion.

I require fast conveyancing in Speke as I have pressure to complete within 2 weeks. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save money and time?

If.Given you are are a cash buyer you have the choice not to do searches although no lawyer would advise that you don't. Drawing on our experience of conveyancing in Speke the following are instances of issues that can be revealed and therefore affect future mortgageability: Enforcement Actions, Outstanding Fees, Outstanding Grants, Railway Schemes,...

I am looking for a ground for flat up to £195,000 and identified one close by in Speke I like with a park and railway links in the vicinity, the downside is that it's only got 61 years on the lease. There is not much else in Speke for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you require a home loan that many years may be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could 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 and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.

I am four weeks into a residential purchase having been referred to solicitors by the local agent to carry out the conveyancing in Speke. We are not happy. Can you help me find new conveyancers?

A conveyancer would need to be really poor to suggest changing them. Has the mortgage been sent? If so you will need to inform them of the new contact details and get the mortgage documents are re-issued. Your new conveyancer should be on the mortgage company panel to avoid supplemental charges and frustration. So that should be your starting point. Our find a solicitor tool should help you find a lender approved conveyancer for your conveyancing in Speke

I work for a reputable estate agency in Speke where we see a number of flat sales derailed due to short leases. I have been given conflicting advice from local Speke conveyancing solicitors. Please can you clarify whether the vendor of a flat can initiate the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Speke Conveyancing for Leasehold Flats - A selection of Queries before buying

How many of the leaseholders are in arrears for their service charge payments? The best form of lease structure is if the freehold interest is in the ownership of the leaseholders. In this scenario the lessees enjoy control and notwithstanding that a managing agent is often retained if it is bigger than a house conversion, the managing agent retained by the leaseholders. What prohibitions are contained in the Speke Lease?