I am thinking of mortgaging my apartment in Colsterworth, does my lawyer need to be on the Nottingham Solicitor panel?
There is nothing to stop you using your solicitor, but Nottingham will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
How does conveyancing in Colsterworth differ for newly converted properties?
Most buyers of new build premises in Colsterworth contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is completed. This is because builders in Colsterworth typically purchase 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 Colsterworth or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Colsterworth is where the house is located. What do you suggest?
Flying freeholds in Colsterworth are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Colsterworth you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Colsterworth may ascertain 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.
We're novice buyers - agreed a price, yet the agent has warned us that the vendor will only move forward if we instruct the agent's preferred solicitors as they want a ‘quick sale’. We would rather use a local conveyancer accustomed to conveyancing in Colsterworth
We suspect that the owner is not behind this ultimatum. Should the seller desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is going to damage their objectives. Avoid the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you will continue to use your own,trusted Colsterworth conveyancing solicitors - not the ones that will earn their negotiator at the agency a referral fee or hit his conveyancing thresholds demanded by senior management.
What are your top tips when it comes to choosing a Colsterworth conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Colsterworth conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Colsterworth conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:
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How experienced is the practice with lease extension legislation? Can they put you in touch with clients in Colsterworth who can give a testimonial?
Colsterworth Leasehold Conveyancing - A selection of Queries Prior to buying
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Is the freehold owned collectively by the leaseholders? Does the lease have more than 90 years remaining? In the main the outlay for major works tend not to be wrapped into the maintenance charges, albeit that a few managing agents in Colsterworth require leaseholders to contribute towards a sinking fund and this is used to offset against major works.
I bought a property in Colsterworth last 26/3/2024 and to date it is still not recorded with HMLR. It was part of a new estate and my solicitor told me that it may take 12 months to complete the registration formalities. I have called the Land Registry directly and they say that the initial application was cancelled due to questions not being addressed in time. What can I do?
Contact your lawyer - if you are not getting sensible responses, find out about their firm’s complaints protocol and amplify your concerns to a Partner. Registrations for Colsterworth conveyancing are not known to be especially complex.