My partner and I are getting closer to an exchange on a flat in Waddington and my parents have sent the exchange deposit to my property lawyer. I am now advised that as the deposit has not arrived from me my property lawyer needs to disclose this to my bank. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?

The conveyancing practitioner is obliged to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.

At what point will exchange of contracts occur in sale conveyancing in Waddington and am I required to be at the lawyers branch?

If you are local to our conveyancing solicitors in Waddington you are invited in to sign documents. However, the lender approved solicitors we work with supply a countrywide conveyancing service and give just as detailed and professional a job for you when dealing with you digitally. The executing of the sale agreement is not the critical part. Signing on the dotted line simply enables the firm to officially exchange at the appropriate time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Waddington)to be in the office available at the end of the phone to exchange contracts.

I can see plenty of information on this site regarding conveyancing in Waddington but what is your top tip for appointing the right conveyancer in Waddington

It would be unwise to be seduced by the cheapest Waddington conveyancing fees. You really do get what you pay for when it comes to property lawyers. 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 advance.

I just acquired a house at auction in Waddington. Conveyancing is necessary. What is next?

Having exchanged you should find a conveyancing practitioner quickly as you will have a fast approaching deadline in which to complete the purchase. An auction property should have an associated legal set of papers. This will include most,if not all of the documents that your solicitor requires. Where you are dealing with leasehold property the auction papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to leasehold premises. You should pass this on to the lawyer instructed by you at the earliest opportunity. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.

My sealed bid on a detached house in Waddington has been accepted, but there is a chain. The sellers have offered on a flat, however it’s not been accepted yet, and are looking at other apartments booked. I have selected a nearby conveyancing solicitor in Waddington. What do I do now? When do I get the mortgage application with Coventry BS going?

It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then valuation, Waddington conveyancing search fees, etc). First, you should check that your conveyancer is on the Coventry BS approved list. Regarding the subsequent phase this very much depends on the circumstances of your case, desire for the property and on the state of the market. In a buoyant market some buyers would apply for the mortgage with Coventry BS and pay for the valuation and only if it was satisfactory would they request their solicitor to proceed with the conveyancing in Waddington.

How does conveyancing in Waddington differ for new build properties?

Most buyers of new build premises in Waddington come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Waddington tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Waddington or who has acted in the same development.

We expect to complete the sale of our £175,000 garden flat in Waddington in just under a week. The managing agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Waddington?

Waddington conveyancing on leasehold maisonettes usually necessitates the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They are entitled to charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is above £800. The administration charge demanded by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality one has no choice but to pay whatever is requested of you should you wish to sell the property.

I own a split level flat in Waddington, conveyancing having been completed June 1998. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Waddington with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ceases on 21st October 2077

You have 52 years left to run we estimate the premium for your lease extension to range between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.