My brother-in-law has suggested I instruct a conveyancing solicitor in West Sussex. I I would like to check whether they are on the Nationwide Building Society approved list of lawyers. Can you help?
The first thing you should do is phone the conveyancer and enquire if they are on the lender panel. Otherwise you can get in touch with Nationwide Building Society who may be able to confirm.
How does conveyancing in West Sussex differ for new build properties?
Most buyers of new build or newly converted property in West Sussex approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is finished. This is because new home sellers in West Sussex typically acquire the land, 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 West Sussex or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in West Sussex ahead of retaining lawyers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some banks may not grant a loan on this type of house.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. Should you wish to call us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in West Sussex. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in West Sussex to see if the conveyancing costs will increase in light of this.
Should I go with a West Sussex conveyancing practitioner in close proximity to the house I am purchasing? We have a good friend who can perform the legal formalities however his firm is located over three hundred miles drive away.
The benefit of a local West Sussex conveyancing practice is that you can drop in to sign documents, hand in your identification documents and apply pressure on them if necessary. Having local West Sussex know how is a bonus. However it's more important to get someone that will do a good and efficient job. If other friends have used your friend and the majority were content that must trump using an unknown West Sussex conveyancing solicitor just because they are West Sussex based.
I am attracted to a couple of maisonettes in West Sussex both have in the region of fifty years remaining on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in West Sussex is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and mortgage companies, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with West Sussex conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in West Sussex - Examples of Queries before buying
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The best form of lease structure is if the freehold interest is owned by the leaseholders. In this arrangement the lessees enjoy control and even though a managing agent is frequently employed if it is larger than a house conversion, the managing agent is directed by the tenants. Make sure you find out if there is anything that is prohibited in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in West Sussex. If you love the flatin West Sussex yet your cat can’t live with you then you have a very hard decision.
I am looking for West Sussex competitive conveyancing fees. Can I be confident that all the West Sussex law firms that are listed on your directory are on the mortgage company conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have advised us that they are on the bank panel and agreed to advise us to take down their listing in the event of removal off of the mortgage company panel. To date we have not been informed by either a lender or a member of the public that the data about a specific West Sussex conveyancing solicitor being on the mortgage company conveyancing panel is not accurate.