What is the first thing I need to know regarding purchase conveyancing in Harbury?
You may not hear this from too many lawyers but conveyancing in Harbury and elsewhere in Warwickshire is often a confrontational experience. In other words, when it comes to conveyancing there is an abundance of opportunity for friction between you and other parties involved in the transaction. For instance, the seller, selling agent and sometimes the bank. Selecting a law firm for your conveyancing in Harbury is a critical decision as your conveyancer is your adviser, and is the ONE person in the transaction whose responsibility is to act in your legal interests and to protect you.
Sometimes a third party with a vested interest may attempt to convince you that you should follow their advice. For instance, the property agent may claim to be assisting by suggesting your conveyancer is slow. Or your mortgage broker may try to convince you to do something that is against your lawyers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I require expedited conveyancing in Harbury as I have an ultimatum to exchange contracts in less than 4 weeks. A home loan is not required. Can I escape the need for conveyancing searches to save money and time?
As you are are a cash buyer you have the choice not to have searches carried out although no solicitor would recommend that you don't. Drawing on years of experience of conveyancing in Harbury the following are examples of issues that can arise and adversely impact the marketability of the property: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Road Schemes,...
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Harbury is where the house is located. Can you offer any guidance?
Flying freeholds in Harbury are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Harbury 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 Harbury 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 residence.
I need to instruct a conveyancing lawyer in Harbury for my remortgage. Is there any facility to review a firm’s record with the profession’s regulator?
You may read documented Solicitor Regulator Association (SRA) decisions resulting from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The regulator sometimes recorded telephone calls for training reasons.
I've recently bought a leasehold flat in Harbury. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a 1 bedroom flat in Harbury, conveyancing was carried out 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Harbury with over 90 years remaining are worth £227,000. The ground rent is £50 charged once a year. The lease expires on 21st October 2096
With only 71 years left to run we estimate the premium for your lease extension to be between £9,500 and £11,000 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. 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. Neither should you move forward based on this information before getting professional advice.
I have read on numerous consumer advice websites that before selecting a conveyancing firm they must be approved by your lender. I am novice purchaser but I have an AIP from Virgin Money and I already have a high street conveyancing solicitor in Harbury lined up. Will Santander need an approved lawyer to be instructed? Does a list of panel firms even exist so I can pick a conveyancing solicitor in Harbury?
You need to use a solicitor that is on the Santander panel. The first thing to do is telephone your chosen Harbury conveyancing solicitor to check if they are on the Santander panel. If they are not approved you have a number of options available to you here:
- Complete the purchase with your preferred Harbury property lawyer but Santander will need to retain a lawyer from their approved list. This will result in additional fees and likely frustration.
- Get a new conveyancing practitioner to conduct the conveyancing, obviously checking they are on the Santander conveyancing panel.
- Appeal to your conveyancing practitioner to attempt to join the lender panel.