I am progressing with the sale of my flat in Chelmsford and the EA has just called to warn that the buyers are appointing a new law firm. The excuse is that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a big named mortgage company only work with certain lawyers rather the firm that they want to appoint for their conveyancing in Chelmsford ?
Lenders have always had an approved set of law firms that can represent them, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices 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 purchasers are not going to have any impact on this.
I am acquiring a property without a mortgage in Chelmsford. I have lived for the previous Seventeen years in Chelmsford. Conveyancing searches are expensive. As I have knowledge of the area and road intimately should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a mortgage, then almost all of the Chelmsford conveyancing searches are optional. Your conveyancer will 'advise', no-doubt strongly, that you should have searches done, but he has a professional duty to take that path of advice. One thing to take into account; if you are going to dispose of the house at a future date, it could be of relevance to your future purchaser what the searches determine. On occasion properties with apparent issues can still reveal negative search results. A good conveyancing solicitor in Chelmsford will provide you some helpful advice here.
What does a local search tell me concerning the house we're buying in Chelmsford?
Chelmsford conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations such as Searches UK The local search plays an important role in many a Chelmsford conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the premises (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 thirteen subject areas.
Just had an offer accepted on a new build apartment in Chelmsford. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Chelmsford
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Chelmsford is the location of the property. What do you suggest?
Flying freeholds in Chelmsford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Chelmsford you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chelmsford may decide 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 residence.
My husband and I may need to sub-let our Chelmsford garden flat temporarily due to a career opportunity. We used a Chelmsford conveyancing firm in 2004 but they have since shut and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your previous Chelmsford conveyancing solicitor is no longer available you can review your lease to check if you are permitted to let out the premises. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to obtain consent from your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet in the absence of first obtaining permission. Such consent should not be unreasonably turned down. If the lease prohibits you from letting out the property you should ask your landlord for their consent.
I purchased a garden flat in Chelmsford, conveyancing formalities finalised in 1996. How much will my lease extension cost? Equivalent flats in Chelmsford with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £50 per annum. The lease terminates on 21st October 2089
With 68 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as 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 renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.