Me and my fiance are buying a maisonette in Catton. My property lawyer has never been on on the bank solicitor list. Is it possible for me to retain my Catton conveyancing solicitor notwithstanding that they are not on the lender panel of approved conveyancing solicitors?
One will need to appoint a solicitor to complete the legal work required if you take out a mortgage to buy your property. They will conduct all the relevant due diligence on the property, ensuring that you will be registered as proprietor and ensure that all the required mortgage paperwork is in place. One may appoint a Catton lawyer of your choice. However, where the conveyancer selected is not a member of the bank approved list further fees will be incurred as separate legal representation will be need by the lender. Conveyancing panel applications may be submitted, so provided your solicitor has not previously sought membership they should take the opportunity to apply.
How does conveyancing in Catton differ for newly converted properties?
Most buyers of new build property in Catton approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Catton tend to buy the land, 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 conveyancers 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 Catton or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £305k and found one near me in Catton I like with a park and station in the vicinity, however it's only got 49 remaining years left on the lease. I can't really find anything else in Catton suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage the shortness of the lease will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
In what way can the Landlord & Tenant Act 1954 affect my commercial premises in Catton and how can your lawyers assist?
The particular law that you refer to provides security of tenure to commercial leaseholders, giving them the right to make a request to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Catton is one of our hundreds of locations in which the firms we work with are based
My husband and I are a couple of weeks into a leasehold purchase having been directed to solicitors by the selling agent to carry out the conveyancing in Catton. I am not happy. Can you help me find new conveyancers?
They would have to be really poor in order to consider diss instructing them. Has the mortgage been sent? In the event that it has you need to make them aware of the replacement lawyer and get the offer are issued to the new lawyers. The solicitor ideally needs to be on the lenders panel to avoid escalating charges and frustration. So that should be your first question of the new solicitors. Our find a solicitor tool will help you find a lender approved conveyancer for your home move in Catton
I've found a house that appears to be perfect, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Catton. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
Most houses in Catton are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. It is clear that you are buying in Catton so you should seriously consider looking for a Catton conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will appraise you on the various issues.
Leasehold Conveyancing in Catton - Sample of Questions you should consider Prior to buying
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What is the maintenance charge and ground rent on the property? For many Catton leaseholds the cost for major works are not included within service charges, albeit that a few managing agents in Catton ask leaseholders to contribute towards a sinking fund and this is used to offset against major works. What prohibitions are there in the Catton Lease?