We're in Colerne, First timers purchasing with a mortgage (lender is Virgin Money , and our solicitor is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner 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.
How does conveyancing in Colerne differ for new build properties?
Most buyers of new build premises in Colerne contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is constructed. This is because builders in Colerne usually acquire 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 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 used to new build conveyancing in Colerne or who has acted in the same development.
I have been on the look out for a flat up to £245,000 and identified one round the corner in Colerne I like with amenity areas and transport links in the vicinity, however it only has 52 years on the lease. There is not much else in Colerne in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a mortgage the shortness of the lease may be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
In what way can the Landlord & Tenant Act 1954 affect my business property in Colerne and how can you help?
The particular law that you refer to provides protection to business lessees, giving them the a statutory right to apply to court for a renewal tenancy and remain in occupation at the end of an expired lease. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in Colerne
Am I best advised to use a Colerne conveyancing solicitor based in the vicinity that I am hoping to buy? We have a good friend who can perform the legal work but her office is a couple of hundredkilometers away.
The primary upside of using a local Colerne conveyancing firm is that you can visit the firm to execute paperwork, present your identification documents and apply pressure on them if necessary. They will also have local knowledge which is a bonus. However it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and on the whole were impressed that should outweigh using an unfamiliar Colerne conveyancing solicitor just because they are Colerne based.
Is planning consent necessary to split a single dwelling into a couple of appartments in Colerne? This has occurred to a property next door to a relative in Colerne and was ignorant of it happening until it was complete.
Planning consent is necessary for converting a single dwelling in Colerne into flats but probably not for reverting once again to single dwelling-house so, simply put, yes.