I had a mortgage agreed in principle with Lloyds. Seaton conveyancing practitioners have been appointed. How long does it take for Lloyds to issue the offer to the property lawyer?
Some lenders take longer than others. Have Lloyds conducted the valuation? Have you advised Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I'm at the point of looking at houses in Seaton and I am about to put in an offer. Is it best to have a conveyancing practitioner on ‘stand by’? I am planning to take a home loan with Nationwide.
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are seeking a mortgage with Nationwide, make sure you remember to check that your lawyer is on the Nationwide conveyancing panel.
After shopping around on the internet I have found a Seaton conveyancer having made sure that they are on the Nationwide conveyancing panel. Does my lawyer arrange the survey of the property?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Seaton surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My relative suggested that if I am buying in Seaton I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Seaton conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Seaton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Seaton Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Seaton Education with plans and statistics, Local Amenities and other useful information regarding Seaton.
How does conveyancing in Seaton differ for new build properties?
Most buyers of new build residence in Seaton approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is completed. This is because developers in Seaton typically 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 conveyancing solicitors 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 Seaton or who has acted in the same development.
I have been on the look out for a ground for flat up to £235,500 and found one close by in Seaton I like with open areas and station nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Seaton in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will 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 proprietor has owned the property for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
I have been sourcing a conveyancing solicitor in Seaton for my purchase. Is it possible to check a firm’s record with the profession’s regulator?
You can see presented Solicitor Regulator Association (SRA) determinations resulting from inquisitions started on or after 1 January 2008. Visit Check a solicitor's record. For details about the period before 1 January 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA could monitor telephone calls for training requirements.
Estate agents have just been given the go-ahead to market my 2 bed flat in Seaton. Conveyancing is yet to be initiated, however I have recently received a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal because all ground rent and service payments will be apportioned 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 management companies will not acknowledge the buyer until 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.
Leasehold Conveyancing in Seaton - A selection of Queries Prior to buying
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It is important to be aware whether redecorating or some other major work is due shortly to be shared by the leasehold owners and could well dramatically impact the level of the service charges or result in a one time payment. How is the lease structured? Make sure you discover if the the lease includes any adverse restrictions in the lease. By way of example it is very common in Seaton leases that pets are not allowed in in a block in Seaton. If you like the propertyin Seaton but your dog is not allowed to make the move with you then you will be faced hard determination.