My flat in Dorridge is up for sale and I have a purchaser. Does my solicitor need to be required to be on the Aldermore conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Aldermore conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
Is there a list of Kent Reliance panel solicitors in Dorridge on the Council of Mortgage Lender’s Website?
No. There is no such directory service on the CML or Building Society Association websites. Very few banks make their panel listings viewable online. Where you are seeking to appoint a Dorridge conveyancer on the Kent Reliance please use our tool.
We have a mortgage agreed in principle with Santander. Dorridge conveyancing solicitors are instructed. What is the average time that one could expect to receive a mortgage offer from Santander?
Some lenders take longer than others. Have Santander done the valuation? Have you advised Santander as to your lawyers' details and checked that your lawyers are on the Santander conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Clydesdale have agreed my home loan in principle, my bid on a house in Dorridge has been accepted, what are the next steps?
Your estate agent will wish to be advised as to your lawyer's details (make sure the lawyers are on the bank’s approved list). Contact Clydesdale or your broker and finish off any outstanding forms. Clydesdale will sellect a valuer who will get in touch with the selling agent or seller to schedule a time for the valuation to take place. Once conducted (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Clydesdale will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Dorridge.
Over the last few months I have been searching for a flat up to £305k and found one near me in Dorridge I like with open areas and station in the vicinity, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Dorridge suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan that many years will be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
My husband and I are FTB’s - agreed a price, but the selling agent informed us that the seller will only proceed if we instruct the agent's recommended lawyers as they need an ‘expedited deal’. We would rather use a family conveyancer who is accustomed to conveyancing in Dorridge
We suspect that the seller is not behind this demand. Should the seller desire ‘a quick sale', alienating a serious buyer is going to damage their objectives. Contact the owners directly and explain that (a)you are serious buyers (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)but you will continue to appoint your preferred Dorridge conveyancing firm - rather thanthose that will earn their estate agent a commission or meet his conveyancing thresholds set by corporate headquarters.
I have just started marketing my garden flat in Dorridge. Conveyancing solicitors are to be appointed soon, however I have recently had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you discharge the service charge as usual as all ground rent and service invoices should be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Dorridge Leasehold Conveyancing - Examples of Questions you should ask before buying
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How is the lease structured? It would be a good idea to investigate if there is anything that is prohibited in the lease. For instance it is reasonably common in Dorridge leases that pets are not allowed in in a block in Dorridge. If you like the flatin Dorridge yet your dog is not allowed to live with you then you will be presented with a hard compromise.
We own a leasehold flat in Dorridge. Conveyancing was finalised in 21012. I have been told that I mustn’t allow the lease length get too short. Why is that a problem?
Dorridge leasehold properties are for a prescribed period - normally ninety nine years when they commenced. However many appartments in Dorridge were constructed or converted 20 or more years ago and so these leases now have fewer than eighty years unexpired. That may seem like plenty of time however Banks, Building Societies and other mortgage companies tend to need leases to have a minimum of seventy five years unexpired to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are getting close to seventy five years. To optimize your property value you should be considering whether or not to extend your lease long before you come to sell it. You should note that there are advantages to doing so before the lease reaches even eighty years as when the lease is less than 80 years the premium to be paid to extend starts to increase.