When does exchange of contracts occur in sale conveyancing in Hadleigh and do I need to attend the lawyers office?
If you are in close proximity to one of the conveyancing solicitors in Hadleigh you are welcome to come in to sign contracts. However, the lender approved solicitors we work with supply countrywide coverage for conveyancing and provide as equally comprehensive and professional a job for you when dealing with you electronically. The executing of the contract is not when everything is set in stone. A signed contract is necessary for the solicitor to address the formalities when the time is right, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Hadleigh)to be in the office at the appropriate time.
We previously instructed conveyancers with offices in Hadleigh on the Santander solicitor approved list. They are now charging me a supplemental charge for dealing with the Santander mortgage. Is this an additional conveyancing fee specified by Santander?
Provided it is contained in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. The fee is not set by Santander but by your Hadleigh lawyer. Numerous firms on the Santander panel will levy ’dealing with mortgage’ fee and others do not.
Two weeks ago we had a mortgage agreed in principle with Bank of Ireland. Hadleigh conveyancing solicitors have been appointed. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
Some lenders take longer than others. Have Bank of Ireland done the valuation? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
After what seems like an age I have had an offer on an apartment in Hadleigh agreed to, but there is a chain. The sellers have offered on on an apartment, but it’s not yet agreed to, and have viewings of other apartments booked. I have chosen a local conveyancing solicitor in Hadleigh. What do I do now? At what stage should I apply for the mortgage with Lloyds?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then survey, Hadleigh conveyancing search costs, etc). The first thing to do is check that your property lawyer is on the Lloyds conveyancing panel. Regarding the next stages this very much dictated by the specifics of your case, motivation for the property and on the state of the market. In a rising market some purchasers would apply for a home loan with Lloyds and arrange for the valuation and only if it was satisfactory would they pay their property lawyer to press on with the conveyancing in Hadleigh.
I'm buying my first flat in Hadleigh with a loan from HSBC Bank. The builders refused to budge the amount so I negotiated £7000 of extras instead. The sale representative suggested that I not inform my conveyancer about the side-deal as it will put at risk my mortgage with HSBC Bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I opted to have a survey carried out on a house in Hadleigh ahead of appointing lawyers. I have been informed that there is a flying freehold aspect to the house. The surveyor advised that some banks may not give a loan on this type of property.
It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hadleigh. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hadleigh to see if the conveyancing costs will increase in light of this.
Back In 2002, I bought a leasehold flat in Hadleigh. Conveyancing and Virgin Money mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Hadleigh who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Hadleigh conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a split level flat in Hadleigh, conveyancing having been completed in 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Hadleigh with over 90 years remaining are worth £181,000. The average or mid-range amount of ground rent is £55 per annum. The lease terminates on 21st October 2077
With just 51 years left to run we estimate the price of your lease extension to be between £30,400 and £35,200 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
Me and my husband are FTB’s just having agreed a price on a property in Hadleigh, and need to get solicitors appointed. We have used the numerous rating tools and the fee estimates are from all across the country. Is it essential to have a Hadleigh lawyer local to our potential property? I am willing to do all the communicating over the web, but I assume at some point we will be required to visit the conveyancer's office to sign documents?
The solicitor does not need to be in Hadleigh, but choosing local means that you can go in if required, by way of example, if a signature is immediately necessary. Also, a Hadleigh solicitor is likely to be familiar with local agents and (if the vendor has instructed a local conveyancing practitioner) with them, which should help smooth the process.