I am need of leasehold conveyancing for an apartment in a fairly new development (seven years old) in Maldon. 95% of the properties have already been disposed of. Is it strictly necessary to order conveyancing searches for my conveyancing in Maldon?
If you are buying a property with the assistance of a mortgage, your mortgage company will insist on some (many) of the searches so you'll have no choice. If not, then Maldon conveyancing searches are for you to decide upon. No doubt your conveyancer, will ’encourage’, perhaps in the strongest possible terms, that you should not go ahead without searches, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or it may be necessary to instruct a new lawyer for your conveyancing in Maldon.
We are getting the release of further monies on our home loan from Virgin Money as we want to carry out improvements to our property in Maldon. Are we obliged to choose a bricks and mortar Maldon solicitor on the Virgin Money conveyancing panel to handle the legals?
Virgin Money would not normally instruct a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money conveyancing panel.
I am currently in the process of buying my council flat in Maldon. I have a mortgage agreed with Skipton. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
About to purchase house in Maldon. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Maldon lawyer is on the Barclays conveyancing panel.
What will a local search inform me about the property my wife and I purchasing in Maldon?
Maldon conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations for example Searchflow The local search plays an important role in most Maldon conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your new home. The search will provide data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
Should I instruct a Maldon conveyancing lawyer based in the vicinity that I am hoping to buy? We have a good friend who can carry out the legal work but his firm is located approximately 350miles drive away.
The benefit of a high street Maldon conveyancing practice is that you can pop in to sign documents, present your ID and pester them if necessary. They will also have local insight which is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and on the whole were impressed that should trump using an unfamiliar Maldon conveyancing solicitor solely due to them being based in the area.
I am employed by a reputable estate agency in Maldon where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Maldon conveyancing solicitors. Can you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I bought a 1st floor flat in Maldon, conveyancing formalities finalised in 2003. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Maldon with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2094
With just 69 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.