The housing market in Ivybridge is hotting up. What can be done to hasten the conveyancing process?

Where you are under pressure to sign contracts we would recommend that your solicitor is familiar with the area as they will have local connections and know-how. It is possible that they could have conducted previousproperties in the same street. You would be best advised to use a Ivybridge conveyancing lawyer. Second, check that the lawyer is on the on the approved list for your mortgage company. It is understood that 18% of Ivybridge conveyancing deals are frustrated or jeopardised after discovering a buyer’s conveyancer was not on their banks member panel. This can often result in the transaction being frustrated by as much as 21 days. It is estimated that this issue affects in the region of 100,000 home sales annually. Many Ivybridge conveyancing practices can not represent certain mortgage companies so do check as early as possible.

Will lawyers request money on account for my conveyancing in Ivybridge?

Where you are retaining lawyers for conveyancing in Ivybridge your lawyer will ask you place them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the sale price then this will be required shortly in advance of contracts are exchanged. The closing balance that is due should be transferred shortly before completion.

Due to the advice of my in-laws I had a survey completed on a house in Ivybridge before instructing lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some banks will not grant a mortgage on such a house.

It varies from the lender to lender. Lloyds has different requirements from Halifax. If you e-mail us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Ivybridge. Conveyancing will be smoother if you use a solicitor in Ivybridge especially if they regularly deal with such properties in Ivybridge.

Am I right to be wary that estate agents that I am dealing with are suggesting an online conveyancing firm as opposed to a High Street Ivybridge conveyancing firm?

As with many professional services, often referrals from relatives can be extremely useful or valuable. Yet there are lots of people with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and lenders might all put forward conveyancers to retain. Sometimes these lawyers might be known to one of the organisations as being good in their field, but sometimes there behind the scenes financial incentive behind the endorsement. You are at liberty to appoint your own conveyancer. You need to be aware that some mortgage providers specify a panel list of lawyers you have to use for the lender aspect of your conveyancing.

Can you provide any top tips for leasehold conveyancing in Ivybridge with the aim of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Ivybridge can be bypassed if you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
Some Ivybridge leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. The majority of landlords or Management Companies in Ivybridge charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Ivybridge. If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Ivybridge state that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such changes. If you fail to have the paperwork in place you should not communicate with the landlord without contacting your conveyancer in advance.

Ivybridge Leasehold Conveyancing - A selection of Queries Prior to buying

The answer will be helpful as a) areas may cause problems for the building as the common areas may begin to deteriorate if repairs remain unpaid b) if the tenants have a dispute with the managing agents you will need to know about it The best form of lease structure is a share of the freehold. In this situation the leaseholders enjoy being in charge if their destiny and although a managing agent is often employed if it is larger than a house conversion, the managing agent acts for the leaseholders themselves. How much is the ground rent and service charge?