We're in West Bromwich, First timers buying with a mortgage (lender is Nationwide , and our solicitor is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have been told that property searches are the main reason for hinderance in West Bromwich house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in West Bromwich.
The estate agent has sent us the confirmation of our purchase of a new build apartment in West Bromwich. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in West Bromwich
-
Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please confirm the Lease plans are architect prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
How do I use your search facility to select a conveyancing practitioner in West Bromwich on the panel for my lender?
First choose a mortgage company such as Santander, The Mortgage Works or Godiva Mortgages Ltd then type in your location a common one being West Bromwich. Conveyancing firms in West Bromwich and beyond will then be identified.
I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in West Bromwich. Conveyancing advisers have not yet been instructed. Will they explain the issues?
The majority of houses in West Bromwich are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in West Bromwich so you should seriously consider looking for a West Bromwich conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should advise you fully on all the issues.
West Bromwich Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing
-
Does this lease have more than 80 years unexpired? The answer will be important as a) areas could result in problems in the building as the communal areas may start to deteriorate if services are not paid for b) if the leasehold owners have a dispute with the managing agents you will wish to have complete disclosure How much is the yearly service fee and ground rent?
Is there a reason that West Bromwich conveyancing fees are higher for leasehold and freehold properties?
There is always more work involved for leasehold conveyancing. West Bromwich has many leasehold properties. There is more paperwork involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.