Much to our surprise we have been advised by our mortgage broker that my Shepperton lawyer is not on the mortgage company Solicitor panel. What can I do to check?
You need to call your Shepperton lawyer directly. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
I am considering remortgaging my flat in Shepperton, does my lawyer have to be on the Principality Conveyancing panel?
There is nothing to stop you using your solicitor, but Principality will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
We are purchasing a property and the solicitor has referenced Chancel Repair to which the house may be liable because it falls into the area of such a church. She has recommended insurance. Is this strictly required for conveyancing in Shepperton
Unless a previous purchase of the premises completed after 12 October 2013 you may take it that solicitors handling conveyancing in Shepperton to remain recommending a chancel search and or chancel repair liability policy.
How does conveyancing in Shepperton differ for new build properties?
Most buyers of new build premises in Shepperton come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Shepperton usually 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 property lawyers 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 Shepperton or who has acted in the same development.
Over the last few months I have been searching for a flat up to £305k and found one near me in Shepperton I like with a park and transport links nearby, however it only has 51 years unexpired on the lease. There is not much else in Shepperton for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a mortgage that many years will be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you may request that they commence the lease extension formalities 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 speak to your conveyancing solicitor about this.
Why is it not possible to complete our conveyancing in Shepperton on a bank holiday?
This is due to the fact that on completion the purchase price will pass between the banks of the purchaser and owner’s conveyancer and currently this can only take place on a business day. It is not possible to complete on a saturday or sunday either.