I have been told that property searches are a common reason for stalling in Molesey house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any holding up conveyancing in Molesey.
Are there restrictive covenants that are commonly picked up during conveyancing in Molesey?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Molesey. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Molesey differ for new build properties?
Most buyers of new build property in Molesey contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is constructed. This is because developers in Molesey tend to purchase the site, 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 Molesey or who has acted in the same development.
I am looking for a ground for flat up to £305k and found one close by in Molesey I like with amenity areas and railway links in the vicinity, the downside is that it only has 51 years unexpired on the lease. There is not much else in Molesey for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan that many years will likely be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
Do I need to be wary by estate agents that I am dealing with are recommending a factory type conveyancing firm as opposed to a High Street Molesey conveyancing company?
As with lots of professional services, often suggestions from relatives can be extremely useful or valuable. Yet there are many players in a conveyancing deal; estate agents, mortgage brokers and mortgage companies may recommend conveyancers to appoint. On occasion the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there may be a commercial relationship behind the endorsement. You are at liberty to choose your preferred conveyancer. Don't forget that most lenders have an approved list of conveyancers you must use for the mortgage aspect of your conveyancing.
I bought a flat in Molesey last 27/12/2023 and to date it is still not recorded with HM Land Registry. It was part of a development site and my solicitor told me that it may take one year to register. I have spoken with HMLR directly and they have informed me the initial application was cancelled due to questions not being addressed in time. Should I be concerned?
get in touch with your conveyancing practitioner - if you are not getting sensible responses, look up their internal complaints process and escalate your problem to a Partner. Registrations for Molesey conveyancing are not known to be significantly delayed.