I am in the process of mortgaging my apartment in Frinton On Sea, does my lawyer need to be on the Clydesdale Solicitor panel?
There is nothing to stop you using your solicitor, but Clydesdale will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Are there restrictive covenants that are commonly identified as part of conveyancing in Frinton On Sea?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Frinton On Sea. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Just had an offer accepted on a new build flat in Frinton On Sea. Conveyancing is necessary evil 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 legal work.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Frinton On Sea
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I have been on the look out for a ground for flat up to £195,000 and identified one round the corner in Frinton On Sea I like with open areas and station nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Frinton On Sea for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the shortness of the lease may be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
We're FTB’s - had an offer accepted, yet the estate agent has warned us that the seller will only go ahead if we use the agent's chosen lawyers as they need an ‘expedited deal’. We would rather use a high street conveyancer with experience of conveyancing in Frinton On Sea
It is highly unlikely the vendors are driving this. If they want ‘a quick sale', turning down a serious purchaser is likely to cause more damage than good. Try to communicate with the sellers directly and explain that (a)you are motivated buyers (b)you are ready to progress, with finances arranged © you do not need to sell (d) you wish to move quickly (e)but you intend to use your own,trusted Frinton On Sea conveyancing solicitors - as opposed tothose that will earn the estate agent a introducer fee or meet his conveyancing targets demanded by corporate headquarters.
In relation to leasehold conveyancing in Frinton On Sea what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Frinton On Sea. Most leases are drafted differently and drafting errors can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
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Insurance obligations A provision to repair to or maintain parts of the premises
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Leeds Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.
I am the registered owner of a studio flat in Frinton On Sea, conveyancing having been completed May 2012. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Frinton On Sea with a long lease are worth £170,000. The ground rent is £50 levied per year. The lease expires on 21st October 2104
With 78 years unexpired the likely cost is going to range between £7,600 and £8,800 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 extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.