The Canvey Island conveyancing firm handling our Canvey Island conveyancing has identified an inconsistency between the assumptions in the valuation report and what is in the conveyancing documents. My lawyer says that he must check that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s stance right?
Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I have been told that property searches are the main reason for hinderance in Canvey Island conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays in the conveyancing process. Searches are not likely to be the root cause of holding up conveyancing in Canvey Island.
Just acquired a semi-detached house in Canvey Island , What is the estimated time for the Land Registry to record my proprietorship? My Canvey Island conveyancing solicitor works at snail pace, so I want to be sure the land registry aspects are dealt with.
There is nothing unique when it comes to conveyancing in Canvey Island registration formalities. Rather than based on location, timeframes can vary according to the party submitting the application, whether it is in order and if the Land registry must send notices to any other persons or bodies. As of today roughly three quarters of submission are fully addressed in less than three weeks but occasionally there can be longer delays. Registration is effected once the purchaser has moved in to the property so post completion formalities is not always primary concern but if it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for an expedited registration.
I decided to have a survey completed on a house in Canvey Island in advance of appointing lawyers. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some mortgage companies may refuse to grant a loan on this type of home.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Canvey Island. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Canvey Island to see if the conveyancing costs will increase in light of this.
I have just appointed agents to market my garden flat in Canvey Island. Conveyancing has not commenced, however I have just had a yearly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the maintenance contribution as normal because all ground rent and maintenance charges will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a leasehold flat in Canvey Island, conveyancing formalities finalised in 2002. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Canvey Island with over 90 years remaining are worth £207,000. The average or mid-range amount of ground rent is £60 per annum. The lease terminates on 21st October 2076
With only 57 years left to run the likely cost is going to be between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.