Am I correct in assuming that the fact that my solicitor in Maldon is not identified on my bank's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Maldon conveyancing practice and enquire why they are no longer on the approved list for your lender.
My husband and I are approaching an exchange on a house in Maldon and my mum and dad have transferred the exchange deposit to my property lawyer. I am now informed that as the deposit has not come from me my solicitor needs to make a notification to my mortgage company. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I informed the bank regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your lawyer is legally required to check with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
It is 10 years ago since I bought my home in Maldon. Conveyancing lawyers have just been retained on the sale but I am unable to track down my title deeds. Will this cause complications?
You need not be too concerned. Firstly there is a chance that the deeds will be retained by your mortgage company or they could be in the possession of the lawyers who acted in the purchase. Secondly in all probability the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining up to date copy of the land registers. The vast majority of conveyancing in Maldon involves registered property but in the unlikely event that your home is unregistered it adds to the complexity but is resolvable.
Despite weeks of looking the Title Certificate and documents to my property can not be found. The conveyancers who did the conveyancing in Maldon 4 years ago are no longer around. What do I do?
In today’s world there are copies made of almost everything, and your conveyancer will know precisely where to find all the relevant paperwork so you can buy or sell your house without any difficulty. If duplicates are not available, your conveyancer may be able to arrange cover in the form of insurance or indemnities against future claims on the property.
Over the last few months I have been searching for a ground for flat up to £305k and identified one close by in Maldon I like with a park and railway links in the vicinity, however it's only got 51 remaining years left on the lease. There is not much else in Maldon suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan the remaining unexpired lease term will be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
All being well we will complete the disposal of our £450,000 flat in Maldon in just under a week. The management company has quoted £312 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Maldon?
Maldon conveyancing on leasehold apartments usually necessitates the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be content to assist. They are at liberty to levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that one has little option but to pay whatever is demanded if you want to complete the sale of your home.
I am the registered owner of a ground floor flat in Maldon, conveyancing formalities finalised 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Maldon with an extended lease are worth £190,000. The ground rent is £45 per annum. The lease runs out on 21st October 2088
With 62 years left to run the likely cost is going to range between £17,100 and £19,800 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.