I am obtaining a mortgage offer from Nat West. My intention is to use a Licensed Conveyancer in Long Stratton. Does the Nat West Conveyancing panel allow for Licensed Conveyancers?
The Nat West conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Me and my partner are buying a apartment in Long Stratton. It might be a silly question but how we can trust a lawyer? At some point we will need to put money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We had appointed conveyancers locally in Long Stratton on the Nationwide solicitor approved list. They have just billed me a supplemental sum for dealing with the Nationwide mortgage. Is this an additional conveyancing fee set by Nationwide?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. The charge is not set by Nationwide but by your Long Stratton conveyancing practitioner. Some firms on the Nationwide panel will quote an ‘acting for lender’ fee but many firms include it on their overall fee.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Long Stratton solicitor - who is on the RBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Long Stratton postcode. As you are getting a mortgage with RBS, you could contact them to see if they have a list of approved surveyors in Long Stratton.
How does conveyancing in Long Stratton differ for new build properties?
Most buyers of new build premises in Long Stratton contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Long Stratton tend to purchase the land, 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 conveyancers 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 Long Stratton or who has acted in the same development.
What tools are available to locate a Long Stratton law firm on the Halifax conveyancing panel? I have a car and am happy to travel upto 20kilometers to meet the solicitor.
You can use the search on this website. Please select a mortgage company and your location and you will see a number of Long Stratton conveyancing lawyers located nearest you. We have listed some Long Stratton conveyancing firms at the bottom of this page and you can telephone them to check if they are on the Halifax member panel
I am looking at a two apartments in Long Stratton which have in the region of 50 years left on the leases. Do I need to be concerned?
There are no two ways about it. A leasehold flat in Long Stratton is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most buyers and lenders, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Long Stratton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Long Stratton Leasehold Conveyancing - Sample of Questions you should ask before Purchasing
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Who are the managing agents? Is the freehold owned collectively by the tenants?
How much experience do your Long Stratton conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Long Stratton conveyancing lawyers help thousands of buyers move home every year and supported plenty of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Long Stratton conveyancers have worked on recent similar matters.