My conveyancer has discovered a defect with the lease for the apartment we are purchasing in Great Baddow. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that he must ensure that the mortgage company is content with this solution. Who is the client here, us or the bank?
Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the bank are the client. These conveyancing instructions must be adhered to.
I am the registered owner of a freehold property in Great Baddow but still charged rent, why is this and what is this?
It is rare for properties in Great Baddow and has limited impact for conveyancing in Great Baddow but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
Should commercial conveyancing searches reveal planned roadworks that could impact a commercial premises in Great Baddow?
Many commercial conveyancing solicitors in Great Baddow will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Great Baddow. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Great Baddow.
For every commercial conveyancing transaction in Great Baddow it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can result in delays to Great Baddow commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Great Baddow.
I used Wolstenholmes a few years ago for my conveyancing in Great Baddow. I now require my file however cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate 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 Great Baddow of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm remortgaging my current house to a buy to let loan with Santander and intend to use the remaining equity as a down payment on a second property. The location we are talking about is Great Baddow. Will your lawyers be able to act for the two mortgage companies and link together the conveyances?
Do use our comparison tool on this page to check that the conveyancers are approved by both lenders. On the basis that they are your solicitor should be able to tie up the two transactions but you should have a chat with you lawyer and make clear your desired outcome and requirements.
I've found a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Great Baddow. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Great Baddow are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. it is apparent that you are purchasing in Great Baddow in which case you should be looking for a Great Baddow conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.
I own a 2 bed flat in Great Baddow, conveyancing formalities finalised June 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Great Baddow with an extended lease are worth £216,000. The ground rent is £50 per annum. The lease runs out on 21st October 2092
With only 69 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.