Can you explain why leasehold purchase conveyancing in West Wittering costs more?
West Wittering leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
What is the difference between a licensed conveyancer and conveyancing solicitor in West Wittering
Two types of professional can conduct conveyancing in West Wittering namely licenced conveyancers or solicitors. Both professionals handle the legal services that required to complete the disposal or purchase of property. They are both duty bound to execute West Wittering conveyancing to the same standards and guidelines so you can be sure that your conveyancing will be properly carried out and that the requisite steps should be accurately taken.
How can we know in advance if a West Wittering conveyancing solicitor on the Yorkshire BS panel is any good?
When it comes to conveyancing in West Wittering getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer handling your conveyancing.
It is not clear whether my mortgage offer requires a lease extension. I have called into my local West Wittering bank branch on various occasions and was told it does not impact the mortgage offer and they will lend. My West Wittering conveyancing solicitor - who is on the bank conveyancing panel- called to say that they would not lend based on their published requirements. I have no idea who is right.
Provided that the solicitor is on the mortgage company panel, they must adhere to the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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'm refinancing my current property to a BTL loan with Santander and intend to use the remaining equity as a deposit on another property. The location we are interested in is West Wittering. Will your conveyancers be able to act for the two banks and link together the conveyances?
Make use of our comparison tool on this site to be sure that the solicitors are on the relevant lender panels. On the basis that they are the conveyancer should be able to connect the two transactions but you should talk with you lawyer and make clear your expectations and requirements.
My husband and I are FTB’s - had an offer accepted, but the agent informed us that the owners will only go ahead if we instruct their chosen conveyancers as they want an ‘expedited deal’. My instinct tells me that we should use a high street conveyancer who is accustomed to conveyancing in West Wittering
It is highly unlikely the owners are driving this. If they require ‘a quick sale', taking such a hostile approach to a genuine purchaser is going to damage their objectives. Bypass the agents and go straight to the sellers and make the point that (a)you are serious purchasers (b)you are excited to move forward, with finances in place © you do not need to sell (d) you intend to proceed fast (e)however you intend to use your preferred West Wittering conveyancing lawyers - not the ones that will earn their estate agent a commission or hit his conveyancing targets set by HQ.
I own a leasehold flat in West Wittering. Conveyancing was finished in last year. I have been told that I mustn’t allow the the remaining lease term to get too low. Is this right?
West Wittering domestic long term leases are for a set period - normally just under one hundred years when they commenced. However many flats in West Wittering were built or converted in the 60’s and so these leases now have less than eighty years left to run. This may seem like a long time however Banks, Building Societies and other mortgage companies on the whole need leases to have a minimum of seventy five years unexpired to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are getting close to 75 years. To maximise the marketability of your property you should be thinking about whether to extend your lease long before you come to sell it. You should note that there are advantages to doing so before the lease reaches even eighty years as when the lease is below eighty years the premium to be paid to extend starts to increase.