We're in Chandlers Ford, First timers buying with a mortgage (lender is Clydesdale , and our solicitor is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I happen to be the single beneficiary of my late father’s will and I have everything in my name alone, including the my former home in Chandlers Ford. Conveyancing formalities meant that the Land Registry date was in December. I now wish to sell up. I understand that there is a CML six month 'rule', which means that my property ownership could be considered the same way as though I had purchased the property in December. Will no one buy the property for half a year?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. How practical a view mortgage companies take of it, depend on the mortgage company as this provision primarily exists to identify the purchase and immediately sell or the quick reselling of properties.
How can we tell if a Chandlers Ford conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Chandlers Ford obtaining recommendations is a good start. 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 advertising the lowest fees. We would always suggest that you speak with the lawyer carrying out your conveyancing.
I have a mortgage with Aldermore for my property in Chandlers Ford. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Aldermore?
Your original mortgage agreement with Aldermore will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Aldermore’s mortgage conditions. It may be that Aldermore will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. You need not do this via a Aldermore conveyancing panel lawyer.
Do commercial conveyancing searches disclose planned roadworks that could affect a commercial site in Chandlers Ford?
Its becoming the norm that commercial conveyancing solicitors in Chandlers Ford will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Chandlers Ford. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Chandlers Ford.
For every commercial conveyancing transaction in Chandlers Ford it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may result in delays to Chandlers Ford commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Chandlers Ford.
My husband and I are one month into a residential purchase having been referred to conveyancers by the high street agent to handle our conveyancing in Chandlers Ford. I am am very frustrated with the level of service. Could you you assist me in finding new solicitors?
A lawyer would have to be very poor to suggest diss instructing them. Has your mortgage offer been issued? In the event that it has you will need to inform them of the new solicitor and have the loan are re-issued. Your new solicitor ideally should be on the banks panel to avoid supplemental costs and frustration. So that should be your starting point. Our search tool can help you find a lender approved lawyer for your home move in Chandlers Ford
I am attracted to a two flats in Chandlers Ford which have approximately 50 years left on the leases. should I be concerned?
There are no two ways about it. A leasehold apartment in Chandlers Ford is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of purchasers and lenders, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Chandlers Ford conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Chandlers Ford - Sample of Questions you should ask before buying
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How many years are left on the lease? Is anyone aware of any major works anticipated that could increase the service fees? Best to be warned if changing the roof or some other major work is due in the foreseeable future to be shared between the leaseholders and will materially impact the level of the service charges or require a one off invoice.
What are my options where I am dissatisfied with the conveyancer who undertook our conveyancing in Chandlers Ford?
Occasionally the level of service you receive is not as you expect, and unfortunately sometimes matters do not go as planned. Nevertheless there is recourse if you were dissatisfied with your conveyancing in Chandlers Ford. This varies from trying to resolve matters directly with them, through to reporting a conveyancer to their governing body. If you remain dissatisfied you may consider getting in touch with the Legal Ombudsman.