Why is it silly to buy a leasehold with less than 99 years to run?
In large part, if a leasehold drops below 90 years, it’s because mortgage companies will not be willing to lend money to purchase the leasehold. They will almost certainly have a stipulation on the length of the leasehold as part of their criteria for lending.
Most buyers are very aware of this and the trend is for an insistence of the sellers to provide an extension back up to the 99-year or 125-year thresholds before considering its purchase. Otherwise, even if you can finance it, eventually you’ll have to consider the legal cost of extending the lease yourself.
Our mortgage lender will be Virgin Money - is there anything I need to consider?
Buyers in Wincanton should know that, in some cases, lenders are now reducing their 'solicitor panel', potentially creating increased legal costs for purchasers. Homeward Legal, however, will act for all major mortgage lenders, ensuring that an additional conveyancing solicitor will not be required to act for your lender.
Sudden financial circumstances mean we ideally need to move along quickly and complete on the conveyancing process on our jointly owned share of freehold flat as quickly as possible, are you fast home moving solicitors in Wincanton ?
Candidly a high proportion of lawyers are simply lackadaisical which creates a lot of anguish to the process of home moving.
With us, solicitors are proactive and will communicate through every part of the property chain (sequence of buyers and sellers) and who always use advanced case and work flow systems and IT systems to push through your home move as quickly as possible.
Is a home buyers survey a good idea if we are buying a house or flat, regardless of its age, in Wincanton?
Homeward Legal recommend that all purchasers arrange a RICS surveyor when purchasing in Wincanton. Numerous defects can negatively affect a property, which include chimney defects and flat roof leaks. These will not be reported on by a solicitor.
Which actual searches will the conveyancer in Wincanton order when buying a Wincanton flat?
Standard conveyancing procedure is to obtain the following Local Authority, Drainage Search, Environment Search and Tin Mining Search and, depending on certain criteria, less common searches for instance Flood Risk search.
How might Wincanton property legal work for a purchase need such a long time?
Conveyancing could take more time than budgeted for a variety of reasons. The delays can regrettably be out of the solicitor's hands. Homeward Legal strive to diminish the cost of these delays where feasible.