When does exchange of contracts happen for domestic conveyancing in Filey and do I need to be at the conveyancers branch?
If you are in close proximity to one of the conveyancing solicitors in Filey you are welcome to attend to sign documents. However, the lender approved solicitors we work with provide a countrywide conveyancing service and provide just as detailed and professional a job for you when communicating with you digitally. The executing of the contract is not the critical part. A signed contract is necessary for the conveyancer to exchange contracts at the suitable time, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Filey)to be in the office available at the end of the phone to exchange contracts.
I have a decision in principle. The lender mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel solicitor as I would prefer to appoint a Filey based conveyancing firm?
You should check but the chances are that give you one of their panel solicitors should you accept the "fee-free" incentive. Contact the bank and determine if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Filey.
Me and my brother own a semi-detached Victorian property in Filey. Conveyancing practitioner acted for me and Clydesdale. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Filey and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing lawyer who conducted the purchase.
How does conveyancing in Filey differ for newly converted properties?
Most buyers of new build premises in Filey contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is finished. This is because house builders in Filey typically purchase the site, 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 Filey or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a house in Filey ahead of instructing lawyers. I have been advised that there is a flying freehold element to the house. The surveyor has said that some mortgage companies may not issue a mortgage on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. Should you wish to call us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Filey. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Filey to see if the conveyancing costs will increase in light of this.
I have just started marketing my basement flat in Filey. Conveyancing is yet to be initiated, however I have just received a yearly service charge demand – should I leave it to the buyer to sort out?
It best that you pay the service charge as you normally would because all rents and maintenance invoices will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until 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. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Filey - A selection of Questions you should consider before Purchasing
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The majority of Filey leasehold properties will be liable to pay a service bill for maintenance of the block levied by the freeholder. Where you buy the property you will have to meet this contribution, normally in instalments accross the year. This may be anything from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. In all probability there will be a ground rent to be met yearly, this is usually not a exorbitant amount, say about £25-£75 but you need to check it because on occasion it can be prohibitively expensive. How much is the ground rent and service charge? Does the lease have more than 90 years unexpired?