At what point will exchange of contracts occur in residential conveyancing in Mountsorrel and do I need to attend the conveyancers office?

If you are local to one of the conveyancing solicitors in Mountsorrel you are invited in to sign documents. That being said, the firms we work with provide countrywide coverage for conveyancing and provide as equally comprehensive and professional a job for you when dealing with you digitally. The executing of the sale agreement is not the important part. Signing on the dotted line simply enables the firm to exchange contracts at the appropriate time, 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 a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Mountsorrel)to be in the office at the appropriate time.

Various online forums that I have frequented warn that are the number one reason for stalling in Mountsorrel conveyancing transactions. Is this right?

The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Searches are unlikely to be the root cause of holding up conveyancing in Mountsorrel.

I have recentlybeen informed that Action Conveyancing have closed. They carried out my conveyancing in Mountsorrel for a purchase of a leasehold flat 9 months ago. How can I check that the property is in my name in the name of the former proprietor?

The quickest method to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Mountsorrel conveyancing specialists.

How does conveyancing in Mountsorrel differ for newly converted properties?

Most buyers of new build premises in Mountsorrel contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is built. This is because developers in Mountsorrel typically 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 property lawyers 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 used to new build conveyancing in Mountsorrel or who has acted in the same development.

I own a leasehold flat in Mountsorrel. Conveyancing was finalised in 2011. I have heard that I should not let the the remaining lease term to fall too short. Is this right?

Mountsorrel leasehold properties are for a prescribed period - often just under one hundred years when they commenced. However many flats in Mountsorrel were constructed or converted in the 60’s and so such leases now have fewer than eighty years remaining. That may seem like plenty of time but Banks, Building Societies and other mortgage companies tend to require leases to have a minimum of seventy five years left to adequate security. Accordingly when you come to sell the property you will need to extend the term of your lease if you are nearing seventy five years. To enhance the marketability of your property you should be considering whether to extend your lease long before you come to sell it. Furthermore advantages to taking action before the lease reaches even eighty years as when the lease is below 80 years the amount to be paid to extend starts to escalate.