I am selling my house in Laindon. Will my property lawyer need to be required to be on the Yorkshire BS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Yorkshire BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
A relative suggested that where I am purchasing in Laindon I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Laindon conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Laindon around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Laindon Education with plans and statistics, Local Amenities and other useful data regarding Laindon.
I have been on the look out for a flat up to £305k and found one close by in Laindon I like with open areas and transport links in the vicinity, however it only has 61 years unexpired on the lease. There is not much else in Laindon in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you can request that they start the process of the extension 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 solicitor about this matter.
In searching the world wide web for the words conveyancing in Laindon it shows results of many solicitorsin the vicinity. With so much choice what is the best way to find the suitable property lawyer for my move?
The best way of choosing the right conveyancer is via personal testimonial, so enquire of colleagues and family who have acquired a property in Laindon or a reputable estate agent or mortgage broker. Fees for conveyancing in Laindon vary, so it's a good idea to obtain a minimum of three estimates from different companies. Be sure to seek confirmation that the costs are assured not to increase.
I work for a busy estate agent office in Laindon where we have experienced a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Laindon conveyancing solicitors. Could you clarify whether the vendor of a flat can initiate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser 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 prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 inherited a 2 bed flat in Laindon, conveyancing having been completed 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Laindon with an extended lease are worth £206,000. The ground rent is £45 invoiced annually. The lease terminates on 21st October 2091
With 66 years remaining on your lease the likely cost is going to range between £11,400 and £13,200 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
How much experience do your Laindon conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Laindon conveyancing lawyers help thousands of people move home every year and helped plenty of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Laindon conveyancers have worked on recent similar matters.