I am searching for value for money conveyancer. Should I go for for a national conveyancer as opposed to a family Northampton conveyancing lawyer?
Northampton is a special area, where local experience helps. The laid-back lifestyle has it’s attractions – just not when it comes to your house move. The conveyancers that we endorse host specialist Northampton know how with a professional, can doattitude that ensures everything runs smoothly. It is a definite plus if they benefit from good rapport with mortgage brokers, local authorities, surveyors and other Northampton conveyancing solicitors
When does exchange of contracts take place for domestic conveyancing in Northampton and am I required to be at the solicitors branch?
If you are in close proximity to one of the conveyancing solicitors in Northampton you are welcome to come in to sign documents. However, the law practices we work with offer countrywide coverage for conveyancing and provide as equally detailed and professional a job for you when dealing with you by post or email. The signing of the contract is not the point of no return. Signing on the dotted line simply enables the firm to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Northampton)to be in the office at the appropriate time.
Have just purchased a probate house at auction in Northampton. Conveyancing is needed. What happens now?
Given that you have now legally committed yourself to purchase you now have to hire the services of a conveyancing solicitor as a matter of urgency as you are faced with a pending a drop dead date to complete the purchase. An auction property will have a corresponding auction pack. This should include most,if not all of the documents that your conveyancer will need. If you have purchased leasehold premises the legal papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to a leasehold property. You should pass this on to the lawyer instructed by you at the earliest opportunity. Do make sure that your finances are in place to complete the transaction on the set completion date.
We have agreed to purchase a house in Northampton. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender UBS be concerned?
Given that your lender is UBS your lawyer must comply with the formal requirements outlined in Part two of UK Finance Lenders’ Handbook for UBS. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and property lawyers are required to report to UBS where a lease fails to satisfy these specifications. The specifications relate to the installation of panels on properties nationwide and is not isolated to Northampton.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Northampton building society branch on a couple of occasions and was informed it wasn't an issue and they would lend. My Northampton conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend based on their published requirements. Who do I believe?
Provided that the lawyer is on the lender approved list, they must comply with the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have been told that property searches are the main reason for hinderance in Northampton conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any slowing down conveyancing in Northampton.
How does conveyancing in Northampton differ for new build properties?
Most buyers of new build property in Northampton come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Northampton tend to buy 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 Northampton or who has acted in the same development.
I only have Sixty One years left on my flat in Northampton. I now wish to extend my lease but my landlord is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to track down the lessor. For most situations an enquiry agent should be helpful to conduct investigations and prepare an expert document which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Northampton.
I purchased a basement flat in Northampton, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Northampton with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ends on 21st October 2077
With 52 years unexpired we estimate the premium for your lease extension to be between £29,500 and £34,000 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.