I am not in a position to travel far from Pitsea. Can you please spell out why all Pitsea lawyers are not on all mortgage company panels?
Mortgage Companies tend to restrict either the nature or the number of conveyancing firms on their panel. Frequent examples of such criteria being that the firm must have at least two partners. In addition to restricting the structure of firm, some banks made a decision to restrict the number of conveyancers they use to represent them. You should note that lenders have no accountability for the standard of service given by any Pitsea lawyer on their panel. Property fraud was the main trigger for the rationalisation of conveyancing panels in the last decade even though there are opposing assessments about whether solicitors sat at the center of that fraud. Data via HMLR indicates that thousands of conveyancing firms only transact a couple of conveyances a year. Those vindicating conveyancing panel pruning ask why law firms should have claim to be on a lender panel when clearly property law is not their primary expertise?
Are there restrictive covenants that are commonly identified as part of conveyancing in Pitsea?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Pitsea. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Pitsea. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Pitsea
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I opted to have a survey done on a property in Pitsea in advance of appointing conveyancers. I have been informed that there is a flying freehold overhang to the house. Our surveyor has said that some banks will refuse to issue a loan on this type of home.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Pitsea. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Pitsea to see if the conveyancing will be more expensive.
I was pointed in your direction by two or three local estate agents in Pitsea to locate a conveyancer using your seach tool. What’s the financial upside for Estate Agents to market your services over alternative conveyancing organisations?
We refuse to give any referral fee for directing people to this site. We found it would be just too difficult a fee because home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I’m about to sell my ground floor apartment in Pitsea. Conveyancing lawyers have not yet been instructed, however I have just had a half-yearly service charge demand – Do I pay up?
It best that you discharge the maintenance contribution as normal because all ground rent and maintenance payments will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage 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 until 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.
Pitsea Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying
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You should be aware if it is less than 80 years it will impact the marketability of the property. Check with your bank that they are willing to lend given the lease term. A short lease means that you will most likely have to extend the lease sooner rather than later and you need to have some idea of how much this will be. For most Pitsealease extensions you will need to own the premises for 24 months in order to be entitled to extend the lease. It would be prudent to discover as much as possible about the company managing the block as they can either make life much simpler or problematic. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to practical matters such as the upkeep of the common parts. Enquire of prospective neighbours whether they are happy with them. Finally, be sure you understand the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money. For many Pitsea leaseholds the outlay for major works tend not to be included within service charges, albeit that a few managing agents in Pitsea obliged leasehold owners to pay into a sinking fund and this is used to offset against larger works.