At what point does exchange of contracts take place for domestic conveyancing in Hampshire and am I required to attend the conveyancers branch?
If you are near to one of the conveyancing solicitors in Hampshire you are welcome to come in to sign the paperwork. However, the lender approved solicitors we work with provide countrywide coverage for conveyancing and provide just as detailed and professional a job for you when dealing with you electronically. The signing of the contract is not the point of no return. A signed contract is necessary for the conveyancer to officially exchange when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Hampshire)to be in the office available at the end of the phone to exchange contracts.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Hampshire?
There are many recorded licenced Conveyancers in Hampshire and Solicitor firms in Hampshire offering conveyancing It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal work in transferring property. The two can deal with other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Two weeks ago we had a mortgage agreed in principle with Virgin Money. Hampshire conveyancing solicitors are instructed. How long does it take for Virgin Money to forward the offer to the conveyancing practitioner?
There is no definitive answer here. Have Virgin Money done the valuation? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Lloyds have agreed my home loan in principle, my offer on a house in Hampshire has been accepted, what are the next steps?
The estate agent will need to know who your solicitors are (ensure that the property lawyers are on the lender’s approved list). Telephone Lloyds or the financial adviser and finalise any relevant documentation. Lloyds will instruct a valuer who will get in touch with the selling agent or vendor to arrange an appointment. Once conducted (assuming no problems) it takes on average ten days to get a mortgage offer. Lloyds will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Hampshire.
Should commercial conveyancing searches reveal planned roadworks that could affect a commercial land in Hampshire?
Its becoming the norm that commercial conveyancing solicitors in Hampshire will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Hampshire. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hampshire.
For every commercial conveyancing transaction in Hampshire it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can result in delays to Hampshire commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Hampshire.
Yesterday I discovered 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. Hampshire is the location of the property. Can you offer any guidance?
Flying freeholds in Hampshire are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hampshire you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hampshire may determine 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.
I have been advised by a few property agents in Hampshire to find a conveyancer on your site. Is there a financial upside for Estate Agents to recommend your site rather than alternative conveyancing organisations?
We refuse to offer any commission for pointing buyers and sellers to this site. We found it would be just too difficult to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
Do you have any advice for leasehold conveyancing in Hampshire from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Hampshire can be reduced if you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers’ solicitors. You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your solicitors. A purchaser's lawyer will not be happy to advise their client to where the lease term is below 75 years. It is therefore important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you hold a share in a the freehold, you should ensure that you hold the original share document. Arranging a new share certificate can be a lengthy process and delays many a Hampshire home move. If a reissued share certificate is needed, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity. Some Hampshire leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. If there is a history of any disputes with your landlord or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved.
I am the registered owner of a split level flat in Hampshire, conveyancing formalities finalised in 2009. Can you work out an approximate cost of a lease extension? Corresponding properties in Hampshire with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 per annum. The lease comes to an end on 21st October 2083
With 57 years remaining on your lease we estimate the price of your lease extension to range between £28,500 and £33,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.