Can you explain why leasehold purchase conveyancing in Colchester costs more?
Colchester leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I just acquired a house at auction in Colchester. Conveyancing is needed. What happens now?
Now that you are to in every practical sense signed on the dotted line you must hire the services of a conveyancing solicitor soon as you now have a pending deadline in which to complete the transaction. Every auction property should have an associated legal pack. This will likely include most,if not all of the documents that your lawyer requires. Where you are dealing with leasehold property the auction papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You must hand this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that your finances are organised to complete on the date specified in the contract.
We are purchasing a end of terrace house in Colchester. The intention is to carry out an extension to the side at the house.Will legal work on the property involve checks to determine if these alterations are allowed?
Your conveyancer should check the deeds as conveyancing in Colchester will occasionally reveal restrictions in the title documents which prohibit certain changes or require the permission of another owner. Some additions need local authority planning permissions and approval in compliance with building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
Does a directory service exist listing Clydesdale panel solicitors in Colchester on the Building Society Association’s Website?
No. There is no such facility on the CML or Building Society Association websites. Very few banks make their panel listings available on the web. Where you are looking for a Colchester property lawyer on the Clydesdale please make the most of our tool.
I used Arc property Solicitors a few years ago for my conveyancing in Colchester. I now require my file but the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Colchester of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm refinancing my existing property to a BTL loan with The Royal Bank of Scotland and intend to use the remaining equity as a deposit on another house. The neighborhood we are interested in is Colchester. Will your solicitors be able to act for both sets of banks and tie in the transactions?
Make use of our search tool on this site to be sure that the solicitors are approved by both banks. Having checked that they are the conveyancer should be able to simultaneously deal with the two transactions but you should talk with you conveyancer and specify your expectations and requirements.
I am looking at a two apartments in Colchester both have approximately forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Colchester. The lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease deteriorates and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field.
I am the registered owner of a 1st floor flat in Colchester, conveyancing having been completed in 2003. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Colchester with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease runs out on 21st October 2089
With 65 years unexpired the likely cost is going to range between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
I am in the process of buying my first house in Colchester. Conveyancing lawyer has been selected. The mortgage adviser suggested that a survey is not necessary as the property is just 17 years old.
The bare minimum you need a Home Buyer's Report. Given the premises was constructed over a decade ago the property will be without a warranty, so you would be well advised not to take a risk. For a property that age with no signs of defects a Home Buyer's report could be sufficient. The report should highlight any apparent issues and recommend further investigation where relevant. If there are any signs of problems seek a comprehensive Building Survey from the beginning.