I am expecting a mortgage with Santander. I hope to employ the services of a Licensed Conveyancer in Burnham Market. Does the Santander Solicitor panel exclude conveyancers regulated by the CLC?
The Santander conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
How does conveyancing in Burnham Market differ for new build properties?
Most buyers of new build residence in Burnham Market contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is built. This is because developers in Burnham Market 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 accustomed to new build conveyancing in Burnham Market or who has acted in the same development.
Over the last few months I have been searching for a flat up to £245,000 and identified one close by in Burnham Market I like with a park and transport links in the vicinity, the downside is that it's only got 52 years on the lease. There is not much else in Burnham Market in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the shortness of the lease may be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
Given that I will soon part with hundreds of thousands of pounds on a two bedroom apartment in Burnham Market I wish to have a conversation with the solicitor regarding theconveyancing prior to instructing the firm. Can this be arranged?
This is something that we recommend - we would be delighted to talk to you we do not take any clients on without you speaking to the lawyer who will be doing your conveyancing in Burnham Market.There is no ‘factory style conveyancing’ - every client is unique individual, not a file reference. The law firms that we put you in touch with believe that the figure you are provided with for your conveyancing in Burnham Market should be the figure that you end up paying.
I have just started marketing my 2 bed flat in Burnham Market. Conveyancing has not commenced, but I have recently had a quarterly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as you normally would because all ground rent and maintenance charges will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice 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.
Burnham Market Leasehold Conveyancing - Examples of Queries Prior to Purchasing
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Generally speaking the outlay for major works tend not to be included within service charges, albeit that a few managing agents in Burnham Market ask leasehold owners to pay into a reserve fund created for the specific purpose of building a fund for larger works. Be sure to find out if there are any onerous restrictions in the lease. By way of example some leases prohibit pets being allowed in in a block in Burnham Market. If you like the propertyin Burnham Market yet your cat can’t move with you then you have a very hard determination. Most Burnham Market leasehold properties will have a service bill for maintenance of the building set on behalf of the management company. If you purchase the property you will have to meet this charge, usually periodically during the year. This can differ from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a ground rent to be met annual, normally this is not a significant amount, say about £50-£100 but you should to enquire it because sometimes it can be surprisingly expensive.
I've found a house that appears to meet my requirements, at a great price which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Burnham Market. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Burnham Market ?
Most houses in Burnham Market are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Burnham Market in which case you should be shopping around for a Burnham Market conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will report to you on the legal implications.