Some advice if I may. My Maidenhead lawyer is advising me that he is legally obliged toorder Maidenhead conveyancing searches asthe firm are on the Santanderconveyancing panel. Do I not have any options here?
You have limited options available to you. As you are obtaining a mortgage with a bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Maidenhead conveyancing searches.
My wife and I are selling our property in Maidenhead and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any high street Maidenhead conveyancer would know that there is no such problem. For the life of me I don't know why the buyers are using an internet conveyancing firm rather than a conveyancing solicitor in Maidenhead. Having lived in Maidenhead for many years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to obtain confirmation need.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Maidenhead is where the house is located. What do you suggest?
Flying freeholds in Maidenhead are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Maidenhead you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Maidenhead may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I was advised by numerous estate agents in Maidenhead to select a property lawyer on your site. What’s the financial upside for Estate Agents to promote your site over alternative conveyancing organisations?
We don’t make any referral fee for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I am tempted by the attractive purchase price for a two flats in Maidenhead both have in the region of forty five years left on the lease term. Will this present a problem?
There are no two ways about it. A leasehold flat in Maidenhead is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of buyers and banks, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Maidenhead conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Maidenhead Leasehold Conveyancing - Examples of Queries Prior to buying
The prefered form of lease arrangement is a share of the freehold. In this situation the tenants enjoy being in charge if their destiny and notwithstanding that a managing agent is usually retained if the building is bigger than a house conversion, the managing agent retained by the leaseholders. Most Maidenhead leasehold flats will incur a service charge for maintenance of the block levied by the management company. If you buy the flat you will have to meet this charge, usually quarterly throughout the year. This can differ from a few hundred pounds to thousands of pounds for buildings with lifts and large common grounds. There will also be a ground rent for you to pay yearly, ordinarily this is not a large figure, say approximately £25-£75 but you should to check it because occasionally it could be surprisingly expensive.
I am looking to buy a property and require a conveyancing solicitor in Maidenhead who is on the mortgage company solicitor panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who carry out conveyancing in Maidenhead. We dont recommend any particular conveyancing practice.