Will conveyancers request an advanced payment for my conveyancing in Basildon?
If you are buying a property in Basildon your solicitor will request that you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the total price then this should be needed immediately before exchange of contracts. The final balance that is needed should be transferred shortly before completion.
Can you help - my lawyer advises that flying freehold insurance is needed on my purchase. What is the level of cover for Basildon conveyancing?
The right level of flying freehold indemnity insurance depends on your lender. It would differ for example between Nationwide Building Society and Coventry Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
Two weeks ago we had a mortgage agreed in principle with Skipton. Basildon conveyancing lawyers are chosen. How long does it take for Skipton to send the offer to the conveyancer?
There is no definitive answer here. Have Skipton completed the survey? Have you informed Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have paid off my mortgage with Lloyds. I assume I don't need a Basildon conveyancing practitioner on the Lloyds panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
How does conveyancing in Basildon differ for newly converted properties?
Most buyers of new build premises in Basildon approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Basildon typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Basildon or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in Basildon ahead of instructing solicitors. I have been told that there is a flying freehold element to the house. Our surveyor advised that some lenders will refuse to issue a loan on such a home.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Basildon. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to find a conveyancing solicitor for freehold conveyancing in Basildon. I happened to chance upon a site which seems to have the ideal answer If there is a chance to get all the legals completed via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have recently realised that I have 62 years left on my lease in Basildon. I now wish to get lease extension but my freeholder is absent. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to track down the freeholder. For most situations a specialist should be helpful to carry out a search and to produce an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court covering Basildon.
I invested in buying a leasehold flat in Basildon, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Basildon with an extended lease are worth £191,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2077
You have 53 years remaining on your lease we estimate the premium for your lease extension to range between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.