When can the exchange of contracts occur in domestic conveyancing in Manningtree and am I required to be at the lawyers office?
Where you are local to one of the conveyancing solicitors in Manningtree you are invited in to sign contracts. That being said, the law practices we work with offer countrywide coverage for conveyancing and provide just as comprehensive and professional a job for you when communicating with you by post or email. The executing of the contract is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the conveyancer to exchange contracts at the appropriate time, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Manningtree)to be in the office at the appropriate time.
My grandfather passed away last year and as sole heir and executor I was left the house in Manningtree. The house had a small mortgage remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this allowed?
Where you intend to refinance then Virgin Money will insist on your using a conveyancer on the Virgin Money conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Virgin Money conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Virgin Money mortgage is registered as a charge at the Land Registry.
Just acquired a semi-detached house in Manningtree , how long should it take for the Land Registry to record my ownership? My Manningtree conveyancing solicitor works at snail pace, so I want to be sure that my ownership is registered.
There is nothing unique about conveyancing in Manningtree registration formalities. Rather than based on location, timeframes can vary according to who lodges the application, whether there are errors and whether the Land registry have to notify any other parties. At present in the region of 80% of such applications are completed in less than three weeks but some can be subject to extensive hold-ups. Historically registration occurs once the buyer has moved in to the property thus 'speed' is not usually top priority yet if there is a degree of urgency associated with the registration then you or your conveyancer can communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Manningtree differ for new build properties?
Most buyers of new build property in Manningtree come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Manningtree 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 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 used to new build conveyancing in Manningtree or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one near me in Manningtree I like with amenity areas and station in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Manningtree suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.