Compare quotes from conveyancing solicitors servicing Walthamstow

AgentQuote.co.uk helps you compare Walthamstow conveyancing quotes from property solicitors servicing the Walthamstow area. We hope you find the service helpful. We search for quotes from Walthamstow solicitors and conveyancers servicing the Walthamstow area.

How Long?

How long does the conveyancing process take?

The average sale or purchase should take 4 to 6 weeks, but this can vary depending on a number of other factors.

The conveyance of leasehold property can takes longer than a freehold property because it's necessary to obtain additional information from the managing agent or owners of the property - especially if they're not UK resident.

To be on the safe side - allow up to 12 weeks for the process to complete, longer if complicated chains are involved.

What does Leasehold mean?

Leasehold means that somebody else has title to the land and that you will therefore have to pay a ground rent and possibly also a service charge to the freeholder (owner of the freehold title). It is normally possible to buy the freehold title at a later date as a separate purchase transaction.

It therefore follows that the valuation of two identical properties, one being leasehold and the other freehold, would result in a lower value being applied to the leasehold property.

It is important to check the length of time remaining on the lease (Commonly the leases would have been originally issued with a 99 year life span). If not much time is remaining on the lease it may be difficult to obtain a mortgage, unless the freehold can also be purchased subsequently.