When can the exchange of contracts take place for domestic conveyancing in Worthing and do I need to attend the conveyancers office?

If you are round the corner to our conveyancing solicitors in Worthing you are invited in to sign documents. However, the firms we work with supply a nationwide conveyancing service and give just as comprehensive and professional a job for you when communicating with you by post or email. The executing of the contract is not when everything is set in stone. A signed contract is necessary for the conveyancer to exchange contracts when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Worthing)to be in the office available at the end of the phone to exchange contracts.

When it comes to mortgage companies such as Yorkshire BS, do Worthing property lawyers face an annual charge to be on the list of approved solicitors?

We are unaware of any bank fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.

The mortgage over my property is with Clydesdale for my property in Worthing. Conveyancing was finalised months ago. If I am intending 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 Clydesdale?

You must advise Clydesdale in advance of renting your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies 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 Clydesdale directly. You need not do this via a Clydesdale conveyancing panel solicitor.

It is unclear whether my lender requires a lease extension. I have called my Worthing bank branch on numerous occasions and was reassured it wasn't a problem and they will lend. My Worthing conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend in accordance with their specific requirements. I have no idea who is right.

The property lawyer has to follow the Council of Mortgage Lenders’ Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.

I bought my apartment on 11 February and the transaction details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Worthing said it will be concluded in a couple of weeks. Are properties in Worthing particularly slow to register?

As far as conveyancing in Worthing registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can adjust according to the party submitting the application, whether it is in order and if the Land registry communicate with any 3rd persons or bodies. As of today approximately three quarters of such applications are fully addressed within 12 days but occasionally there can be extensive delays. Registration is effected once the purchaser is living at the property therefore an expedited registration is not usually top priority yet where there is a degree of urgency associated with the registration then you or your lawyers should communicate with the Registry to express the reasoning for the application to be prioritised.

In scouring the world wide web for the term conveyancing in Worthing it reveals many property lawyersin the vicinity. How do I determine which is the suitable property lawyer for purchase transaction?

The ideal way of finding the right conveyancer is via personal recommendation, so seek the opinion of friends and relatives who have purchased a property in Worthing or a respected estate agent or financial adviser. Costs for conveyancing in Worthing vary, so it's advisable to request a minimum of three quotes from different law firms. Be sure to obtain confirmation that the fees are fixed.

I am tempted by the attractive purchase price for a two maisonettes in Worthing both have about 50 years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Worthing. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease deteriorates and it becomes more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this area.

I purchased a garden flat in Worthing, conveyancing was carried out May 1999. Can you work out an approximate cost of a lease extension? Similar properties in Worthing with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 per annum. The lease expires on 21st October 2077

With 52 years left to run we estimate the price of your lease extension to span between £29,500 and £34,000 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.