The housing market in Littleborough is heating up. What can I do to expedite the conveyancing process?

In the event that the seller is applying time constraints for your conveyancing it is highly recommended that your conveyancer is familiar with the location as they will benefit local relationships and know-how. It is possible that they could have handled previoushomes in the same road. You would be best advised to use a Littleborough conveyancing lawyer. In addition, check that the conveyancing firm is on the lender panel. It is claimed that nearly one in five of Littleborough conveyancing transactions are frustrated or derailed after discovering a buyer’s solicitor was not on their mortgage lender’s list of approved solicitors. In many cases this discovery resulted in the transaction being frustrated by an average of three weeks. It is said that this issue affects in the region of one hundred thousand home moves annually. Many Littleborough conveyancing practices can not act for certain mortgage companies so do check at the outset.

I have been told that property searches are the number one cause of obstruction in Littleborough house deals. Is this right?

The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of delay in conveyancing in Littleborough.

I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Littleborough is the location of the property. Can you offer any guidance?

Flying freeholds in Littleborough are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Littleborough you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Littleborough may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

Should I be suspicious by estate agents that I am dealing with are encouraging me to use a factory type conveyancing firm rather than a High Street Littleborough conveyancing firm?

As is the case with lots of professional services, often input from relatives can be very helpful. Nevertheless there are numerous players in a conveyancing transaction; estate agents, mortgage brokers and lenders may suggest conveyancers to choose. On occasion these solicitors might be known to one of the organisations as being good in their field, but sometimes there may be a commercial relationship behind the endorsement. You have the right to appoint your own conveyancer. Don't forget that most lenders have an approved list of conveyancers you have to use for the mortgage aspect of your home move.

I have just started marketing my basement flat in Littleborough. Conveyancing lawyers have not yet been instructed, but I have just received a quarterly service charge demand – Do I pay up?

The sensible thing to do is pay the maintenance contribution as normal given that all ground rent and service charges will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I own a garden flat in Littleborough, conveyancing was carried out October 1995. How much will my lease extension cost? Corresponding properties in Littleborough with over 90 years remaining are worth £186,000. The ground rent is £55 per annum. The lease finishes on 21st October 2078

With 53 years unexpired we estimate the price of your lease extension to range between £27,600 and £31,800 plus costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure 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 considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.