Why is leasehold purchase conveyancing in Braintree costs more?

The conveyancing charges for a leasehold premises in Braintree is often higher than on a freehold property. This is because there is an amount of additional work necessary in communicating with the freeholder and managing agents to collate the evidence about whether the rent and service charges have been cleared and whether there are any major works due in the foreseeable future on repairs or maintenance of the building.

Our mortgage company has suggested a law firm on their panel based in Braintree but I would rather choose a conveyancing lawyer in Braintree round the corner to me. Can you help?

It is by no means the case that all Braintree conveyancing solicitors are on all banks conveyancing panel. Use the above search tool to choose a Braintree conveyancing conveyancer on the on the mortgage company panel.

Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Braintree is the location of the property. Is there any guidance you can give?

Flying freeholds in Braintree are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Braintree you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Braintree may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

I'm converting the mortgage on my primary house to a BTL mortgage with Leeds Building Society and intend to use the remaining equity as a down payment on a second property. The area we are looking at is Braintree. Will your solicitors be able to act for the two mortgage companies and tie in the transactions?

Make use of our search tool on this site to ensure that the solicitors are approved by both mortgage companies. Having checked that they are your conveyancer should be able to tie up the two deals but you should have a chat with you conveyancer and communicate your desired outcome and requirements.

Having checked my lease I have discovered that there are only 68 years unexpired on my flat in Braintree. I now wish to extend my lease but my freeholder is missing. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to find the freeholder. On the whole an enquiry agent should be helpful to conduct investigations and prepare a report which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court covering Braintree.

I acquired a leasehold flat in Braintree, conveyancing having been completed February 1997. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Braintree with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease runs out on 21st October 2078

With 53 years unexpired the likely cost is going to be between £27,600 and £31,800 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.