My bid for a property was accepted at auction in Marlborough. Conveyancing is necessary. What happens now?
Having exchanged you must instruct a conveyancing practitioner as a matter of priority as you are faced with a fast approaching deadline in which to complete the property. Every auction property should have a corresponding auction pack. This should include most,if not all of the documents that your lawyer will need. Where you are dealing with leasehold premises the auction pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You must hand this to the conveyancer working for you as soon as possible. You also need to ensure that that you have the requisite funding organised to complete the transaction on the set completion date.
When it comes to mortgage companies such as Yorkshire BS, do Marlborough lawyers incur a yearly amount to be on the list of approved solicitors?
We are not aware of any bank fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I am currently in the process of buying my council flat in Marlborough. I have a mortgage offer with Skipton. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
I have been told that property searches are the number one cause of hinderance in Marlborough conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays in the conveyancing process. Searches are not likely to be the root cause of holding up conveyancing in Marlborough.
Due to the input of my in-laws I had a survey completed on a property in Marlborough before appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies tend not give a mortgage on this type of house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. If you e-mail us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Marlborough. Conveyancing will be smoother if you use a solicitor in Marlborough especially if they are accustomed to such properties in Marlborough.
We are 17 days into a freehold purchase having been recommend to a firm by the selling agent to execute conveyancing in Marlborough. I am not happy. Could you help me find new solicitors?
A conveyancer would need to be really poor in order to consider changing them. Has your loan offer been sent? In the event that it has you will need to advise them of the replacement conveyancer and get the loan are issued to the new lawyers. Your solicitor ideally should be on the banks approved list to avoid escalating costs and frustration. That should be your starting point. Our search tool can assist you in finding a lender approved lawyer for your home move in Marlborough
I have just appointed agents to market my basement apartment in Marlborough. Conveyancing is yet to be initiated, but I have just had a quarterly service charge demand – what should I do?
It best that you clear the invoice as usual as all ground rent and service charges will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless 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.
I bought a ground floor flat in Marlborough, conveyancing was carried out in 2000. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Marlborough with an extended lease are worth £181,000. The average or mid-range amount of ground rent is £55 levied per year. The lease comes to an end on 21st October 2077
With 51 years remaining on your lease we estimate the price of your lease extension to range between £30,400 and £35,200 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns 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 based on this information before seeking the advice of a professional.
Developers have suggested I use a lawyer and I've obtained an estimate from them. They are nearly £250 less expensive than my family Marlborough solicitor. Should I use them?
Developers frequently have lists of conveyancing practitioners who expedite matters and who know the builder's paperwork and lawyer. Plenty of developers offer an inducement to use a preferred conveyancer for this reason, any increased cost can be avoided and a builder will not put forward a conveyancing warehouse and run the risk of having the conveyancing delayed when they need an exchange within a tight deadline. The argument for not agreeing to use the suggested property lawyer is that they may be unwilling to fight for your interests at the risk of alienating the sellers. Where you have concerns that this may be the case you should keep with your local Marlborough conveyancing practitioner.