My father pointed out to me me that in buying a property in Chelmsford there could be a number of restrictions prohibiting external alterations to a property. Is this right?
There are a number of properties in Chelmsford which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Chelmsford should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I happen to be the only beneficiary of my late father’s will with all property in now in my sole name, including the house in Chelmsford. The Chelmsford property was put into my name in August. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', meaning my proprietorship could be considered the same way as if I'd bought the property in August. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How sensible a view lenders take of it, depend on the mortgage company as this provision is principally there to identify subsales or the wholesaling and assigning of property.
Is there a list of Kent Reliance panel solicitors in Chelmsford on the UK Finance Lenders’ Handbook Website?
No. There is no such tool on the CML or Building Society Association sites. A small selection of banks make their panel listings viewable online. If you are in need of a Chelmsford property lawyer on the Kent Reliance please use our facility.
About to purchase a new build flat in Chelmsford. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Chelmsford
There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan.
I am looking for a leasehold apartment up to £305k and found one round the corner in Chelmsford I like with open areas and transport links in the vicinity, the downside is that it only has 49 years unexpired on the lease. There is not much else in Chelmsford for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could ask them to 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.
I own a leasehold flat in Chelmsford. Conveyancing and Clydesdale mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Chelmsford who acted for me is not around. Any advice?
First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Chelmsford conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a studio flat in Chelmsford, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Similar flats in Chelmsford with a long lease are worth £185,000. The ground rent is £65 invoiced annually. The lease ends on 21st October 2080
With only 60 years unexpired we estimate the premium for your lease extension to be between £20,000 and £23,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. 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. Neither should you take any other action placing reliance on this information before getting professional advice.
My mortgage broker has suggested using their conveyancer for our conveyancing in Chelmsford - Surely it’s better to just instruct them?
It is worth checking if the selling agent is recommending a conveyancing practitioner or introducing to a conveyancing practitioner. There are plenty of Chelmsford estate agents who recommend two or three Chelmsford conveyancing firms purely based on those lawyers offering a great service.