My fiance and I are planning to acquire a home in Saxmundham and are in fact using a Saxmundham conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Santander have this afternoon contacted us to inform me that there is now an issue as our Saxmundham lawyer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is standard for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Saxmundham lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
It has been 3 months following my purchase conveyancing in Saxmundham concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Saxmundham differ for new build properties?
Most buyers of new build premises in Saxmundham contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is finished. This is because new home sellers in Saxmundham typically 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 used to new build conveyancing in Saxmundham or who has acted in the same development.
I am looking for a leasehold apartment up to £245,000 and identified one near me in Saxmundham I like with open areas and station in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Saxmundham for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I am a sole trader intending to take over a lease of an office on a shopping parade. Can you recommend conveyancers offering fixed charges for commercial conveyancing in Saxmundham for less than 1500k?
We can recommend firms who have well rounded knowledge of commercial conveyancing in Saxmundham, including the sale and purchase of businesses as well as simply premises. If you are looking to buy or lease a shop, pub, restaurant, office, retail premises or a complete business we will put you in touch with the right solicitor. As for the charges these will vary based on the structure and terms of the deal. Let us have your contact information or email so as to enable us to furnish you with comprehensive commercial conveyancing quote.
All being well we will complete the sale of our £375,000 garden flat in Saxmundham in 5 days. The landlords agents has quoted £408 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Saxmundham?
Saxmundham conveyancing on leasehold maisonettes typically results in administration charges levied by managing agents :
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Addressing pre-contract enquiries
Where consent is required before sale in Saxmundham
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Saxmundham - Sample of Queries before Purchasing
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It would be wise to investigate if the the lease includes any adverse restrictions in the lease. By way of example plenty of leases prohibit pets being permitted in in a block in Saxmundham. If you love the propertyin Saxmundham however your cat is not allowed to live with you then you will be presented with a difficult decision. This information is useful as a) areas can result in problems for the block as the common areas may start to deteriorate where repairs remain unpaid b) if the tenants have an issue with the running of the building you will wish to know about it It is important to be aware whether fixing the lift or some other major work is due in the foreseeable future that will be shared between the tenants and could well dramatically increase the the maintenance fees or necessitate a one off payment.