I am hoping to receive a mortgage with Lloyds. I would like to use a Licensed Conveyancer in Great Baddow. Does the Lloyds Solicitor panel include Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
As I am unsure how the conveyancing bit works what is the most important piece of guidance you can impart concerning purchase conveyancing in Great Baddow?
Not many law firms or advisers will tell you this but conveyancing in Great Baddow and elsewhere in England and Wales is often a confrontational experience. In other words, when it comes to conveyancing there exists lots of opportunity for conflict between you and other parties involved in the house moving process. For example, the seller, property agent and sometimes the lender. Selecting a law firm for your conveyancing in Great Baddow is a critical decision as your conveyancer is your adviser, and is the ONE party in the transaction whose role it is to look after your legal interests and to keep you safe.
There is a distinct emergence in the "blame" culture- someone must be blamed for the process being so protracted. We recommend that you should always trust your lawyer ahead of the other parties in the conveyancing process.
Will my conveyancer be raising questions about flooding during the conveyancing in Great Baddow.
Flooding is a growing risk for conveyancers dealing with homes in Great Baddow. Plenty of people will purchase a house in Great Baddow, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not best placed to offer advice on flood risk, but there are a number of searches that can be carried out by the purchaser or on a buyer’s behalf which can figure out the risks in Great Baddow. The standard completed inquiry forms supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the owner to find out if the property has ever been flooded. In the event that the property has been flooded in past and is not disclosed by the vendor, then a purchaser may issue a claim for damages as a result of such an incorrect reply. The buyer’s lawyers should also conduct an environmental search. This will higlight if there is a recorded flood risk. If so, additional inquiries should be carried out.
Am I right to be concerned by brokers that I am dealing with are recommending a web based conveyancing firm as opposed to a High Street Great Baddow conveyancing company?
As is the case with many service providers, often suggestions from relatives can be worth their weight in gold. But there are numerous people with a keen interest in a conveyancing deal; estate agents, mortgage brokers and banks might all put forward solicitors to choose. Sometimes these conveyancers might be known to one of the organisations as experts in their field, but sometimes there exists a commercial relationship behind the endorsement. You have the right to select your preferred lawyer. Don't forget that some mortgage providers have an approved list of lawyers you must use for the mortgage aspect of your home move.
I am a negotiator for a busy estate agent office in Great Baddow where we have experienced a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Great Baddow conveyancing firms. Can you shed some light as to whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I invested in buying a studio flat in Great Baddow, conveyancing was carried out 3 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Great Baddow with over 90 years remaining are worth £216,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2089
With only 69 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
My parents are unable to locate their Great Baddow land registry title on the website. They recall that back in the 60’s when they bought the bungalow there were complications regarding Great Baddow not being identified on some systems.
Almost all premises in Great Baddow should appear. Have you limited your search to simply the postcode. Normally it will reveal all the residences inside that postcode. Where recorded it will be there with a title number. If they bought 48 years ago it's conceivable it may be unregistered. The address could still be revealed but with the title number shown 'na'. In this scenario you will need to track down the original title documentation which could be with your parent’s bank.