In the event thatI were to buy a freehold propertyin Ongar for cash and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Ongar?
Any savings you would achieve will be limited to the Ongar conveyancing searches. A conveyancer still got to do everything else - money laundering, liaising with your vendors lawyer, SDLT submission, register the title etc. You might save a bit for them not having to register a mortgage however it won't be significant.
We're in Ongar, First time buyers purchasing with a mortgage (lender is Principality , and our solicitor is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Me and my brother have a semi-detached Georgian house in Ongar. Conveyancing solicitor represented me and Britannia. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ongar and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with your conveyancing practitioner who conducted the conveyancing.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Ongar is where the house is located. Can you shed any light on this issue?
Flying freeholds in Ongar are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ongar you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ongar may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
How do I identify a Ongar law firm on the Bank of Ireland conveyancing panel? I am a keen cyclist and am happy to travel upto 20miles to meet the conveyancer.
Feel free to make use of the tool on this page. Please pick a mortgage company and your location and you will see a number of Ongar conveyancing lawyers locally. We have listed some Ongar conveyancing firms at the bottom of this page and you can call them to verify whether they are on the Bank of Ireland member panel
In relation to leasehold conveyancing in Ongar what are the most frequent lease defects?
There is nothing unique about leasehold conveyancing in Ongar. Most leases are individual and drafting errors can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
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Service charge per centages that don't add up correctly leaving a shortfall A provision to repair to or maintain parts of the premises
You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Barnsley Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to pull out.
Ongar Leasehold Conveyancing - A selection of Queries before Purchasing
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It is important to be aware if changing the roof or some other significant cost is due shortly that will be shared between the tenants and will materially increase the the service charges or require a one off invoice. Who are the managing agents? What is the the remaining lease term?