At what point can the exchange of contracts happen for residential conveyancing in Thorpe Astley and do I need to attend the conveyancers office?

If you are near to our conveyancing solicitors in Thorpe Astley you are welcome to come in to sign contracts. That being said, the firms we work with offer a nationwide conveyancing service and give just as comprehensive and professional a job for you when communicating with you electronically. The executing of the sale agreement is not when everything is set in stone. A signed contract simply enables the firm to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Thorpe Astley)to be in the office available at the end of the phone to exchange contracts.

We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would prefer to use a Thorpe Astley based conveyancing firm?

Do check but the chances are that appoint one of their panel solicitors if you want the "fee-free" offer. Contact the mortgage company and check if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor in Thorpe Astley.

There are a variety of conveyancing solicitors in Thorpe Astley but how do I know who I should use?

It would be unwise to be tempted by the lowest Thorpe Astley conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.

What is the difference between a licensed conveyancer and conveyancing solicitor in Thorpe Astley

There are many registered licenced Conveyancers in Thorpe Astley and Solicitor partnerships in Thorpe Astley to choose from We would stress that the two are regulated professionals specialising in the legal work in transferring property. The two can conduct other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.

Have just purchased a repossessed house at auction in Thorpe Astley. Conveyancing is needed. What is next?

Now that you have for in every practical sense signed on the dotted line you will need to instruct a conveyancing practitioner soon as you now have a tight deadline in which to complete the purchase. An auction property will ordinarily have a corresponding auction set of papers. This will include evidence of title and search results. If you have purchased leasehold premises the conveyancing pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to leasehold premises. You should pass this on to your appointed conveyancing solicitor as soon as possible. You also need to ensure that that you have the requisite funding organised to complete the transaction on the set completion date.

I have been advised by a number of property agents in Thorpe Astley to choose a property lawyer on your site. Is there a financial upside for Estate Agents to offer your site ahead of alternative conveyancing organisations?

We refuse to give any financial incentive for directing people our way. We found it would be just too difficult to pay a commission as members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.

I am attracted to a two maisonettes in Thorpe Astley both have about forty five years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Thorpe Astley is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. The majority of purchasers and banks, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Thorpe Astley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am the registered owner of a 1 bedroom flat in Thorpe Astley, conveyancing having been completed 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Thorpe Astley with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2080

With just 55 years unexpired the likely cost is going to span between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.