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Recently asked questions about conveyancing in Dunmow

I am the registered owner of a freehold property in Dunmow yet charged rent, why is this and what is this?

It’s unusual for properties in Dunmow and has limited impact for conveyancing in Dunmow but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.

Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.

I am assisting my aunt sell her flat in Dunmow. Does the conveyancer order an energy performance certificate or should I organise this?

After the abolition of HIPs, energy performance certificates remained a compulsory part of moving property. An energy assessment must be to hand in advance of the property being placed on the market. This is not a task that law firms normally arrange. If you are using a Dunmow conveyancing solicitor they may be able to arrange energy performance certificates given their contacts with long established local accredited person

I currently have a mortgage with Skipton for my property in Dunmow. Conveyancing was finalised 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?

You must advise Skipton before letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. It may be that Skipton will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. It should not be necessary to do this via a Skipton conveyancing panel lawyer.

I have instructed a Dunmow solicitor having made sure that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?

Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Dunmow postcode. As you are getting a mortgage with Virgin Money, you could contact them to see if they have a list of approved surveyors in Dunmow.

I am buying a new build flat in Dunmow. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Dunmow

    The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. There must be mutual enforceability of lessee’s covenants.

Am I best advised to use a Dunmow conveyancing solicitor based in the location that I am buying? We have a good friend who can execute the legal work however his firm is located a couple of hundredmiles drive away.

The benefit of a local Dunmow conveyancing firm is that you can attend the office to execute documents, deliver your identification documents and apply pressure on them if necessary. Having local Dunmow know how is a benefit. However it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and in the main were happy that must surpass using an unfamiliar Dunmow conveyancing lawyer solely due to them being Dunmow based.

I own a leasehold flat in Dunmow. Conveyancing was finished in last year. I have read on a number of consumer forums that I should not let the lease length get too low. Why is that a problem?

Dunmow leasehold properties are for a fixed period - usually just under one hundred years when they started. However many appartments in Dunmow were constructed or converted in the 60’s and so such leases now have under 80 years unexpired. That may seem like a long time however Banks, Building Societies and other mortgage lenders tend to require leases to have at least 75 years unexpired to be mortgageable. This means that when you come to sell the property you will need a lease extension if you are nearing seventy five years. To enhance the marketability of your property you should be thinking about whether to extend your lease well in advance of selling the property. There are also strong financial reasons to doing so before the lease hits eighty years as when the lease is below eighty years the premium to be paid to extend starts to get a lot more expensive.

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