My previous solicitor has given a fee estimate £1150 for leasehold conveyancing in Chester. I am hoping to sell a Victorian property for £150,000. Is this over the top? Is it above what I should be paying for conveyancing in Chester?
The costs illustration is fractionally on the expensive side. If you are willing to expend time scrutinising quotes you could get the conveyancing a bit cheaper by perhaps a hundred pounds. On the other hand, you couldcome to regret opting for an an unknown conveyancer. If is important to ensure that the conveyancer can represent your lender. Do utilise our search tool to select a Chester conveyancing practice on the lender’s member panel which can often include conveyancing solicitors in Chester.
We were just about to sign contracts for a semi detached house in Chester. We encountered a snag. The mortgage offer with Bank of Scotland expires on 3/12/2025 but the sellers are suggesting a completion date of 5/12/2025. Can one extend the loan expiry date?
The best person to deal with your concern is your conveyancer who will hopefully calculate if he or she is should be discussing with the bank, seller’s representatives, selling agents or conceivably all parties taking into account the circumstances your house move as of today.
We are planning to purchase with Loughborough BS. We have called around locally but cant to find a Chester conveyancing firm on the Loughborough BS approved list. Could you help?
You should make use of the search tool on this site. Pick the lender and type Chester or your location and you will be presented with a number of lawyer based in Chester or nearest you.
How does conveyancing in Chester differ for new build properties?
Most buyers of new build premises in Chester approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is finished. This is because builders in Chester typically acquire 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 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 Chester or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Chester is the location of the property. Is there any guidance you can give?
Flying freeholds in Chester are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Chester you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chester may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Chester. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Chester ?
Most houses in Chester are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Chester so you should seriously consider shopping around for a Chester conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.
Chester Leasehold Conveyancing - A selection of Queries before Purchasing
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Does the lease have onerous restrictions? You should be aware that where the lease has less than eighty years it will affect the salability of the apartment. Check with your lender that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will almost definitely need a lease extension sooner rather than later and it is worth discovering what this will be. Remember, in most cases you would need to own the residence for two years in order to be eligible to exercise a lease extension. How many years remain on the lease?