I am need of leasehold conveyancing for an apartment in a fairly new development (five years built) in Great Dunmow. Almost all the appartments are already sold. Is it strictly necessary to order neighbourhood searches as part of conveyancing in Great Dunmow?
You would be taking a significant risk in refusing to carrying out Great Dunmow conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal necessity to have them, but we would strongly advise in no uncertain terms that your solicitor conducts them. If time pressures and expenses are top of your issues you should discuss with your solicitor about the possibility of search insurance
I own a freehold house in Great Dunmow but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Great Dunmow and has limited impact for conveyancing in Great Dunmow 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
How does conveyancing in Great Dunmow differ for new build properties?
Most buyers of new build premises in Great Dunmow approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is built. This is because builders in Great Dunmow typically buy the real estate, 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 accustomed to new build conveyancing in Great Dunmow or who has acted in the same development.
I am looking to sell my property. My past solicitors has retired. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Great Dunmow if that makes things easier.
Please use our search tool to help you find a solicitor for your conveyancing in Great Dunmow. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I have just appointed agents to market my ground floor flat in Great Dunmow. Conveyancing is yet to be initiated, but I have just had a yearly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge the maintenance contribution as you normally would as all ground rent and maintenance charges should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Leasehold Conveyancing in Great Dunmow - A selection of Questions you should ask before buying
Please note if it is fewer than 80 years it will affect the marketability of the apartment. It is worth checking with your mortgage company that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth finding out what this will be. Remember, in most cases you will need to own the property for a couple of years in order to be legally able to carry out a lease extension. It would be a good idea to enquire if there is anything that is prohibited in the lease. For example some leases prohibit pets being permitted in certain buildings in Great Dunmow. If you love the propertyin Great Dunmow however your cat can’t make the move with you then you will be faced hard choice. Is anyone aware of any major works in the near future that could add a premium to the maintenance fees?
Our solicitor in Great Dunmow has identified a a problem with the lease for the property we are buying in Great Dunmow. The other side have put forward title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor says that as he is on the mortgage company conveyancing panel he must check that the lender is happy with this solution. Are we the client or is the lender?
Just because you have a mortgage offer from the mortgage company does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Great Dunmow conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. The appropriate lender requirements have to be complied with by the lender conveyancing panel who has to balance acting for you and the bank