I am in the market for a low cost conveyancer. Do I opt for a nationwide conveyancer as opposed to a local North Somerset conveyancing lawyer?
Generally conveyancing lawyers in your neck of the woods will enjoy excellent connections with your local authority, which could help with your North Somerset conveyancing searches that your lawyer will need to carry out. It can only assist if they enjoy existing connections with the Local Land Registry Office your area North Somerset, other lawyers in the location and North Somerset selling agents.
How does conveyancing in North Somerset differ for new build properties?
Most buyers of new build premises in North Somerset contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is completed. This is because new home sellers in North Somerset 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 used to new build conveyancing in North Somerset or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one near me in North Somerset I like with amenity areas and transport links nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in North Somerset for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan the shortness of the lease may be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor about this.
Given that I will soon spend over three hundred thousand on a garden flat in North Somerset I would like to talk to a lawyer concerning thehouse move prior to instructing the firm. Is this something that you can arrange?
We could not agree more - we would be happy to talk to you we do not take any clients on without you liaising with the lawyer who will be doing your conveyancing in North Somerset.There is no ‘factory style conveyancing’ - each client is unique individual, not a file number. The solicitors that we put you in touch with believe that the figure you are quoted for residential conveyancing in North Somerset should be the amount on the final invoice that you end up paying.
I am 17 days into a residential purchase having been recommend to conveyancers by the estate agent to carry out the conveyancing in North Somerset. We are not happy. Could you help me find new lawyers?
They would have to be very poor in order to consider diss instructing them. Has your mortgage been issued? If so you must inform them of the new conveyancer and get the offer are issued to the new lawyers. Your solicitor ideally should be on the mortgage company panel to avoid supplemental charges and frustration. So that should be your starting point. The find a solicitor tool should assist you in finding a lender approved lawyer for your home move in North Somerset
I own a leasehold flat in North Somerset. Conveyancing was finished in last year. I have been told that I should not allow the the remaining lease term to get too low. What is the reasoning?
North Somerset domestic long term leases are for a set period - often just under one hundred years when they started. However a significant flats in North Somerset were built or converted in the 60’s and so such leases now have less than 80 years unexpired. This may seem like a long time however Banks, Building Societies and other mortgage lenders generally require leases to have at least 75 years unexpired to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are approaching seventy five years. To optimize your property value you should be considering whether or not to extend your lease long before you come to sell it. Furthermore advantages to taking action before the lease reaches even eighty years as when the lease is less than 80 years the premium to be paid to extend starts to increase.