Finally, a mortgage agreement from Nationwide for the remortgage of my 2 bedroom maisonette is coming within the next few days. Are you able to propose a cheap conveyancing practitioner in Halstead?
You are on the wrong site if you are seeking the cheapest conveyancing in Halstead. We can offer you cost effective conveyancing but our intention is not to work with the cheapest lawyers. Avoid the trap of appointing companies teasing you with £100 conveyancing in Halstead. The optimum result, in going for cheap conveyancing, you will earn what you pay for and at worst it will result in you with a hefty uplift in additional fees and still not receive the service you were hoping for.
A friend advised me that in purchasing a property in Halstead there could be a number of restrictions affecting the ability to carry out external changes to the property. Is this right?
We are aware of a number of properties in Halstead which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Halstead should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to lenders such as Virgin Money, do Halstead conveyancers have to pay an annual charge to be on the conveyancing panel?
We are not aware of any bank fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I recently had an offer agreed on a house in Halstead. My financial adviser pressured me to appoint their property lawyer. I paid an advanced payment of £200. Soon after, the conveyancer contacted me sheepishly admitting that they were not on the Barclays conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Barclays panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am purchasing my first flat in Halstead benefiting from help to buy. The developers would not move on the price so I negotiated £7000 of extras instead. The property agent advised me not disclose to my solicitor about this deal as it could jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a leasehold apartment up to £305k and identified one near me in Halstead I like with a park and station in the vicinity, the downside is that it's only got 61 years on the lease. There is not much else in Halstead suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage that many years will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
My husband and I are FTB’s - had an offer accepted, yet the property agent informed us that the owners will only go ahead if we instruct the agent's chosen conveyancers as they are insisting on a ‘quick sale’. We would rather use a high street conveyancer accustomed to conveyancing in Halstead
We suspect that the seller is not behind this requirement. Should the vendor desire ‘a quick sale', alienating a serious purchaser is not the way to achieve this. Try to communicate with the owners directly and make sure they comprehend that (a)you are genuine purchasers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you will continue to appoint your preferred Halstead conveyancing firm - not the ones that will give the negotiator at the agency a introducer fee or meet his conveyancing figures set by HQ.
Last August I purchased a leasehold house in Halstead. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a 2 bed flat in Halstead, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Halstead with an extended lease are worth £185,000. The ground rent is £65 yearly. The lease runs out on 21st October 2083
With only 60 years remaining on your lease we estimate the premium for your lease extension to span between £20,000 and £23,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.