I am one month into the sale of my apartment in Rayleigh and the EA has just e-mailed to advise that the buyers are switching property lawyer. The reason given is that the bank will only deal with property lawyers on their approved list. On what basis would a major mortgage company only deal with certain solicitors rather the firm that they want to choose for their conveyancing in Rayleigh ?
UK lenders have always had panels of law firms they are content to work with, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks attribute this action to a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any impact on this.
I have given 8 weeks notice to my existing landlord and must vacate my rented flat in Rayleigh by 5/4/2024. Conveyancing on my purchase is underway. Is it possible to complete in 5 weeks as don't want to have to move into short term accommodation?
The normal practice is not to provide notice on a rental until you have exchanged. Assuming that you have not previously done so, speak to your lawyer and request that they cajole the owners solicitors, try to an agreed time frame that all parties will aim to achieve
What does commercial conveyancing in Rayleigh cover?
Rayleigh conveyancing for business premises incorporates a wide range of advice, supplied by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
We're first time buyers - agreed a price, but the property agent advised that the owners will only go ahead if we instruct the agent's chosen conveyancers as they want an ‘expedited deal’. We would rather use a local conveyancer with experience of conveyancing in Rayleigh
We suspect that the owner is not behind this ultimatum. If they require ‘a quick sale', turning down a serious buyer is going to damage their objectives. Speak to the owners direct and make the point that (a)you are serious purchasers (b)you are excited to move forward, with finances in place © you do not need to sell (d) you wish to move quickly (e)but you intend to use your own,trusted Rayleigh conveyancing lawyers - as opposed tothe ones that will give their negotiator at the agency a commission or achieve conveyancing figures pre-set by HQ.
Due to sign contracts shortly on a studio apartment in Rayleigh. Conveyancing lawyers assured me that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Rayleigh should include some of the following:
What remedies are open the freeholder should you have violated the provisions of the lease? Setting out your legal entitlements in respect of common areas in the building.For instance, does the lease permit a right of way over a path or hallways? Does the lease prevent you from renting out the flat, or working from home It needs to be made clear to you if the lease permits you to change or improve aspects of the flat- you should be made aware as to whether any restrictions applies to all alterations or limited to structural alteration, and whether licences for alterations is mandated necessary
I inherited a 2 bed flat in Rayleigh, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Rayleigh with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 per annum. The lease ends on 21st October 2083
With 59 years left to run we estimate the price of your lease extension to be between £20,900 and £24,200 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.